Raw sugar futures settled Friday at a one-week high on commodity fund buying and analysts were mulling if another rally is in store for a market that recently hit a 25-year high, brokers said.
The New York Board of Trade's May raw sugar contract increased 0.35 cent or 2.0 percent to finish at 17.23 cents a lb, moving from 16.76 to 17.25 cents. It was the highest close for sugar on a spot basis since ending at 17.62 cents on February 24. July rose 0.30 to 16.90 cents. Back months gained from 0.30 to 0.33 cent.
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