Raw sugar futures finished easier on Tuesday on profit-taking and producer sales as the market took a breather after surging to a 3-1/2 month high yesterday, brokers said. The New York Board of Trade's active October sugar contract fell 0.09 cent to close at 9.24 cents a lb, trading from 9.23 to a new lifetime peak of 9.41 cents.
Spot July eased 0.08 to 9.11 cents. The rest lost 0.06 to 0.09 cent.
Open interest in July contract fell 5,656 lots to 31,446 contracts as of June 27. Technicians see support in the October contract at 9.12 and 9.05 cents, with resistance at 9.45 cents.
Estimated volume just before the close of trade stood at 73,376 lots, from the prior 78,484 lots. Call volume reached 7,630 lots and puts came to 5,071 lots.
Open interest in the No. 11 raw sugar market jumped 6,936 lots to 381,414 contracts as of June 27. Ethanol futures ended flat, with the June ethanol contract settling at 117 cents a gallon.
US domestic sugar futures ended mixed. September rose 0.35 to 21.65 cents a lb. while November was flat at 20.68 cents. Except for three contracts, the rest were flat. Volume of business just before the close of trade stood at 602 lots, against the prior 189 lots.
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