Raw sugar futures sagged in early dealings on Tuesday after an early bout of fund buying stalled and the market was hit by speculative pressure, brokers said. ICE Futures electronic March sugar contract was down 0.04 cent at 9.92 cents per lb at 9:22 am EST (1422 GMT), moving from 9.90 to 10.02 cents.
"You had that early interest from that fund broker, but we could not get much beyond 10 (cents, basis March), so we came off as a result," a long-time floor trader said. Open-outcry volume Tuesday was at 4,605 lots. Open-outcry volume Monday hit 5,984 lots and screen trade totalled 51,788 contracts, the exchange said.
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