Raw sugar prices settled higher Wednesday on trade buying and speculative short-covering to reverse a run of sizeable losses, but the longer-term trend for prices points to lower levels, brokers said.
New York Board of Trade's March raw sugar contract rose 0.27 cent or nearly 2.5 percent to end at 11.16 cents per lb, dealing from 10.66 to 11.20 cents. May sugar added 0.23 to 11.35 cents and the rest gained 0.21 or 0.22 cent.
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