Raw sugar futures finished mixed Tuesday as the market appeared to be consolidating in a narrow band after soaring to an 11-week high last week, brokers said. The New York Board of Trade's July raw sugar contract eased 0.03 cent to end at 8.80 cents a lb., in a band from 8.79 to 8.87 cents. October slipped 0.01 cent to 8.91 cents. Distant months increased from 0.01 to 0.04 cent.
Fundamentally, analysts feel steady consumer buying should keep values supported while the supply/demand equation seems finely balanced.
Speculative sales and switch business from players transferring positions to the back months pressured nearby contracts, but trade accounts provided more than ample support over the rest of the board, they said.