Raw sugar futures ended slightly lower Wednesday on investor sales and brokers feel the inability of the sweetener to track the rally in crude oil to record highs may lead to further losses. The key raw July sugar contract fell 0.03 cent to end at 10.60 cents per lb, dealing from 10.56 to 10.86 cents. It was the lowest finish for sugar on a spot basis since late last month.
Volume traded in the July contract was at 54,324 lots at 2:08 pm EDT (1808 GMT). Technicians out support for July sugar at 10.50 cents, with resistance at 11 and 12 cents.
Comments
Comments are closed.