Raw sugar futures finished easier Tuesday on profit-taking and producer sales as the market took a breather after surging to a 3-1/2 month high yesterday, brokers said. The New York Board of Trade's active October sugar contract fell 0.09 cent to close at 9.24 cents a lb, trading from 9.23 to a new lifetime peak of 9.41 cents.
Spot July eased 0.08 to 9.11 cents. The rest lost 0.06 to 0.09 cent. Sugar has exploded higher on strong consumer buying and a squeeze in white sugar supplies in London further stoked the searing advance, dealers said.
Follow-through fund buying hoisted sugar to its highest level for the day, but the producer selling intensified on every point up in the market, dealers said.