Raw sugar prices settled slightly higher Wednesday on modest trade buying as players kept their focus on the spot contract's expiration by the end of the week, brokers said.
The New York Board of Trade's July raw sugar contract rose 0.03 cent to finish at 15.67 cents per lb, moving from 15.56 to 15.73 cents.
The benchmark October contract edged up 0.01 to 16.20 cents, dealing from 16.10 to 16.27 cents. Distant months gained from 0.05 to 0.19 cent.
Open interest in July slid 9,893 lots to 21,536 lots as of June 27.
Technicians feel support in the October contract was at 15.90 and 15.83 cents, with resistance at 16.50 and 17 cents.
Volume before the close stood at 39,724 lots, against the previous 51,532 contracts. Call volume touched 6,252 lots and puts hit 3,621 lots. Open interest in the No 11 raw sugar market dropped 5,778 lots to 433,368 lots as of June 27. There were no deals in the ethanol market.
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