Raw sugar futures closed softer Wednesday on speculative sales, but market operators said they feel the sweetener should consolidate in the coming sessions, especially given its bullish outlook. The New York Board of Trade's October sugar contract lost 0.11 cent to finish at 9.41 cents a lb, in a band from 9.37 to 9.55 cents. March shed 0.10 to 9.53 cents.
The rest fell from 0.05 to 0.09 cent. "It was still fund liquidation, with the trade buying all the way down," a brokerage house analyst said.