Raw sugar prices closed Friday near session highs due to late speculative short-covering, although the sweetener is still mired in a band and would need fresh leads next week, brokers said.
The New York Board of Trade's key March raw sugar contract gained 0.17 cent, or 1.46 percent, to settle at 11.80 cents a lb, dealing from 11.65 to 11.81 cents. May added the same to 11.72 cents. The rest rose 0.10 or 0.13 cent. Volume traded before the close amounted to 37,759 lots, versus the previous tally of 34,398 contracts. Call volume hit 13,279 contracts and puts stood at 6,687 lots.
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