Raw sugar futures finished softer Wednesday on speculative fund sales as the market took a breather after its recent wild swings and players will be looking for leads on its next move, brokers said. The March electronic sugar contract was 0.13 cent easier at 11.42 cents per lb at 1:28 pm EST (1828 GMT), moving from 11.37 to 11.65 cents, with traded volume in the contract at around 39,742 lots.
The March open-outcry contract fell 0.12 cent to conclude at 11.43 cents per lb, dealing from 11.36 to 11.63 cents. May fell 0.13 to 11.87 cents. Back months lost 0.07 to 0.13 cent.
"Sugar is trying to hold support today after the spectacular price action of the past week," said Jack Scoville, vice-president of the Price Group in Chicago. Final open-outcry volume was 18,408 lots, compared with the previous tally of 28,123 lots. Call volume was at 35,424 lots and puts hit 36,445 lots. Screen trade Tuesday hit 262,445 lots and total volume was 290,568 lots.
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