Raw sugar prices stumbled to a weak close Thursday on speculative and trade sales as players scrambled to get out of positions in the spot October contract before it expires Friday, analysts said.
The New York Board of Trade's spot October raw sugar contract slid 0.24 cent to conclude at 10.89 cents a lb, moving from 10.86 to 11.20 cents, which matches a contract high reached the previous session.
On Wednesday, the contract ended at 11.13 cents in the highest close on a spot basis for sugar since the then front contract ended at 11.14 cents on October 17, 2000.
Most-active March fell 0.11 cent to 11.14 cents, trading from 11.10 to 11.29 cents, also equalling a contract high reached Wednesday. The rest were flat to down 0.08 cent.