Raw sugar futures closed mixed Wednesday as trade buying was again offset by speculative sales, with the sweetener seen staying in a band due to a dearth of news, brokers said. The New York Board of Trade's March raw sugar contract rose 0.03 cent to conclude at 8.87 cents a lb., trading from 8.81 to 8.88 cents. May sugar added 0.01 to 9.16 cents. Except for one contract, the rest were flat to 0.03 cent easier.
"There's nothing to say about it, given the kind of range we had today," an investment house dealer said.
Market fundamentals were still seen by most players as bullish due to a supply gap and heavier levels of consumer buying expected this year.