London sugar futures skidded to close just off the day's lows on Friday, after New York failed to build on recent gains and both markets corrected lower, traders said.
New York's October contract could not fill a technical price gap on the upside, causing funds to book profits ahead of the long holiday weekend. NYBOT raw sugar futures will be closed on Monday in observance of US Labour Day holiday.
London's October settled $4.5 weaker at $244.50 a tonne, just off the bottom of its $249.40-244.00 range on 2,435 lots from total turnover of 4,560 lots. December whites gave back $3.6 to $252.90 a tonne.
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