NYBOT raw sugar futures settled Wednesday at a one-month high on fund buying and talk that India, the world's biggest sugar consumer, has booked some cargoes of the sweetener, analysts said.
October sugar climbed 0.18 cent to finish at 8.17 cents a lb, dealing from 8.08 to 8.20 cents. It was the highest close for sugar since closing at 8.38 cents on August 3. March gained 0.19 to 8.76 cents.
Distant months added 0.13 to 0.18 cent. Judy Ganes of J. Ganes Consulting said speculative fund buying rocketed values higher as talk of Indian purchases gave the market a boost.
Brokers said resistance in the October contract should be at 8.25 and then 8.50 cents. Support was at 8.08 and the region of 7.99 to 8.00 cents.
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