Raw sugar futures settled lower Wednesday as fund accounts liquidated positions in the spot contract, with more switch trade seen from players before the October contract expires at month's end, analysts said.
The New York Board of Trade's key October raw sugar contract fell 0.07 cent to close at 10.13 cents a lb, trading from 10.05 to 10.18 cents. March lost 0.11 to 10.66 cents.
Except for one contract, back months declined 0.02 to 0.08 cent. Open interest in the October contract slid 10,600 lots to 234,720 contracts as of September 6. The contract goes off the board on September 30.
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