Raw sugar futures were mixed in early business Thursday and the market could just chop around given the dearth of leads for the sweetener, brokers said. "There was one local who jacked it up and then the other specs knocked it back," a floor dealer said, adding the key March contract would need to fall below 9.75 and 9.70 cents to generate any momentum in negative territory.
ICE Futures electronic March sugar contract fell 0.05 cent to 9.79 cents per lb at 9:38 am EDT (1338 GMT), trading from 9.78 to 9.94 cents. The open-outcry March sugar contract lost 0.04 to 9.80 cents at 9:39 am, dealing from 9.78 to 9.93 cents. One contract aside, the rest were up 0.05 to 0.07 cent.
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