Raw sugar futures ended higher Tuesday on buying by small speculators although most players were away from their desks due to the annual Sugar Club meetings being held here this week, brokers said.
The New York Board of Trade's July raw sugar contract rose 0.22 cent, or 1.2 percent, to finish at 17.47 cents a lb, trading from 16.96 to 17.49 cents. October gained 0.17 to 17.81 cents. The rest added 0.15 to 0.18 cent. The market will also be looking toward news from the first NYBOT sugar market outlook seminar being held this afternoon after the close of trade.
Technicians believe support in the July contract is at 17 and 16.80/90 cents, with resistance at 17.50 and 18 cents.
Volume before the close stood at 49,420 lots, against the previous count of 30,570 contracts. Call volume touched 9,582 lots and puts hit 7,493 lots.