US raw sugar futures sunk to 4-months lows on Friday, breaking a key support as lower prices of white sugar in London and shock swings in commodities keep up selling pressure.
"The markets are falling, people are sitting on their hands and end-users, consuming nations are just hoping for lower prices," said James Cordier at Liberty Trading Group."
Benchmark July raw sugar on the New York Board of Trade ended down 0.36 cent, or 2.2 percent, at 15.58 cents per lb, after trading in a 15.84-16.17 range. The previous low was 15.73 cent on January 24. October fell 0.31 cent, or 1.9 percent, to close at 16.14 cents a lb. Forward months through 2007 were down 0.27 to 0.32 cents.
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