Raw sugar futures finished mostly lower Thursday by players engaged in last-minute liquidation of positions in the spot contract before it goes off the board at the close of business tomorrow, brokers said.
The New York Board of Trade's May raw sugar contract lost 0.10 cent to settle at 16.72 cents per lb, moving from 16.35 to 16.95 cents. July was the only winner by rising 0.01 to 17.13 cents. The rest fell 0.03 to 0.08 cent.
Judy Ganes of commodity firm J. Ganes Consulting said that by the time the rolling out of May is done, there "won't be too much" left in deliveries of sugar in the contract. Technicians believe support in the July contract is at 16.50 and 16 cents, with resistance at 16.95 and 17 cents.
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