London sugar futures closed mixed on Thursday with traders talking of larger than expected deliveries of Brazilian cargoes at the expiry of the May contract.
May closed up 80 cents to $230.50 in volume of 1,997 lots, after moving between $233.0 and $228.50.
August ended down 30 cents at $226.O00 in volume of 2,569 lots, having moved between $228.00 and $224.9.
The May-August spread closed at $5.
"Today was mainly book squaring on the May at the expiry of the contract, with larger than expected deliveries seen, maybe some 100,000 tonnes, or 2,000 lots, all Brazils," one trader said.
Another trader estimated deliveries at some six or seven cargoes at the expiry of the May contract.
In fundamentals, the European Union sold 61,250 tonnes of white sugar at a maximum rebate of 48.948 euros per 100 kg at Thursday's tender, traders said.
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