New York raw sugar futures closed mixed on Wednesday as speculative selling weighed down the benchmark October contract while technical buying lifted deferred months in heavy volume trading.
News that Iraq was buying 200,000 tonnes of white Brazilian sugar and seeking another 100,000 tonnes helped raws prices trim back morning declines a bit.
Benchmark October raws at the New York Board of Trade slipped 0.05 cent to close at 10.07 cents a lb, after trading from 10.02 to 10.15 cents.
March futures climbed 0.04 cent to 10.57 cents, after it set a new contract high at 10.61 cents. Later-dated delivery months rose 0.04 to 0.08 cent.
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