NYBOT raw sugar ended Friday near session lows on speculative sales and switch trade, with more rollovers seen next week as players get ready for expiration of the October contract, brokers said.
October sugar came off 0.07 cent to finish at 7.59 cents a lb, near the bottom of its 7.58 to 7.72 cents band. March fell 0.11 to 8.42 cents, moving from 8.40 to 8.58 cents. The rest were 0.12 cent lower to 0.02 cent firmer.
Fundamentally, the sweetener has shown some resilience due to expectations of a supply deficit in 2004/05 and talk of better demand especially from India, the world's largest consumer of sugar.
Small speculators piled on the market and the rollover activity added to the pressure felt by sugar, dealers said.