Raw sugar prices finished higher Friday on mostly switch-related buying by speculators in the market, brokers said. The transfer of massive positions built up by funds who control large pools of money in sugar may remain a feature of business next week, they said.
"We're kind of locked in for a while in spread trade. We have such a big position it will take weeks to completely roll them out," a senior floor dealer said.
The New York Board of Trade's key October raws contract rose 0.02 cent to finish at 9.87 cents a lb, moving from 9.82 to 9.90 cents. March added 0.08 to 10.15 cents. Except for one contract, the rest gained 0.01 to 0.08 cent.
Comments
Comments are closed.