Raw sugar futures tumbled in early trade Wednesday on speculative sales, and brokers said the market may post more losses if it stays below the psychological 10-cent level. "The specs leaned on it hard, but there seems to be pretty good support at 10. If we close below 10, we could go to 9.90 or lower," a floor dealer said, referring to the March contract.
ICE Futures electronic March sugar fell 0.10 cent to 9.97 cents per lb at 9:19 am EDT (1319 GMT), moving from 9.93 to 10.03 cents. Open-outcry volume Tuesday was 7,452 lots and screen trade reached 46,526 contracts.
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