London white sugar futures closed mixed on Friday as speculators took profits, and traders said they remained bullish on prices amid expectations of tightening supplies into next year.
December settled up $0.3 at $239.7 a tonne in volume of 1,634 lots, having moved in a $242.2-238.5 range.
March closed $0.6 down at $254.4 in volume of 1,092 lots, taken from a total turnover of 2,958.
"The selling was profit-taking by specs," one trader said after the market turned negative in the afternoon following a positive tone in the morning due to trade buying.
Despite the selling on Friday afternoon, the Liffe sugar market outlook remained bullish, with many operators anticipating supply tightness into 2005 and increased demand by India after a poor crop.
Comments
Comments are closed.