London sugar claws back gains

London sugar futures clawed back gains to close higher on Thursday a day after a fund-driven selloff, dealers said.
Front-month August settled at $228.0 a tonne, up $3.8, in brisk volume of 3,693 lots, having moved between $229.00 and $222.0 with most of the upside late in the session.
October closed at $230.0, up $6.0, or 2.68 percent, after easing from a session high of $231.5, up 3.35 percent, in late afternoon trade. Total volume in October was 942 lots.
"We are seeing a correction after yesterday's falls. The market went back to where it was supposed to be," a trader said, referring to a resumption of buying by the trade and funds on Thursday afternoon.