NYBOT raw sugar futures finished easier Thursday on producer sales that capped the market after it had surged to a new high, although operators felt the overall tone for the sweetener in the days ahead remained strong.
October sugar fell 0.06 cent to end at 8.16 cents a lb, having ranged from 8.10 cents to a new contract high of 8.27 cents.
On Wednesday, the contract closed at 8.22 cents in the highest close for sugar on the spot weekly charts since trading around 8.22 cents in early March 2003.
March shed 0.04 cent to 8.52 cents and distant months lost 0.02 cent or 0.04 cent.
Sugar had rallied to a 16-month high Wednesday on heavy fund buying and expectations that top importer Russia was poised to book sugar orders after its stocks ran down. Final estimated volume stood at 327 lots, from the prior count of 1,319 lots.
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