Raw sugar futures closed mostly softer on Thursday on sales by small speculators and the market is seen drifting in a band due to a dearth of news ahead of the weekend, analysts said. The New York Board of Trade's May raw sugar contract eased 0.03 cent to finish at 8.97 cents a lb, dealing from 8.94 to 9.05 cents and nearly matching Wednesday's 8.93 to 9.05 cents band. July was flat at 9.13 cents.
Except for two contracts, the rest shed 0.01 to 0.03 cent.
"The specs are keeping the pressure on sugar, but trade buying especially in October kept us from losing more ground. We're just sitting around here, and it doesn't look like we're going anywhere without any kind of news," a trader said.
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