Raw sugar futures reeled from investor fund sales on Tuesday and at a three-week low as weak consumer interest and ample supplies weighed on the market despite another charge by crude to record highs, brokers said. The key raw July sugar contract fell 0.23 cent to end at 10.63 cents per lb, dealing from 10.51 to 10.84 cents.
It was the lowest finish for sugar on a spot basis since late last month. Volume traded in the July contract was at 45,693 lots at 2:12 pm EDT (1812 GMT). Technicians put support in the July sugar contract at 10.50 cents, with resistance at 11 and 12 cents.
Comments
Comments are closed.