Raw sugar prices finished higher Thursday due to modest speculative buying and the market seems pinned in a range while waiting for news to inspire its next move, brokers said.
The New York Board of Trade's key March raw sugar contract rose 0.07 cent to conclude at 11.54 cents a lb, moving between 11.42 and 11.55 cents. May gained 0.08 to 11.50 cents. Two contracts aside, the rest added 0.01 to 0.06 cent.
"It looks like we're going to be stuck here. We're also waiting to see if the end of (the holy fasting month of) Ramadan could spur buying from people in the Middle East and North Africa," one explained.