CSCE raw sugar futures rose from prior one-month lows on Thursday as broad-based buying boosted prices above resistance and some players expected the market was in rally-mode before next week's Sugar Club dinner.
Active July raws gained 0.15 cent to settle at 6.78 cents a lb, after trading from 6.63 to 6.80 cents and breaking above a pivotal point at 6.70 cents.
October vaulted the psychological 7.00 cent mark, rising 0.16 cent to end at 7.08 a lb, within a 6.94-7.09 range. Back months climbed 0.08-0.10 cent.
Raws were bolstered by a blend of speculative, fund and local buying, as well as decent trade buying of spreads, particularly the October/March spread, said floor sources.
Estimated volume in sugar 14 came to 709 lots, versus the 185 lots tallied Wednesday.
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