Raw sugar prices drifted to a weaker close on Tuesday as moderate selling by funds and brokers overpowered some scattered trade buying at lower levels, traders said.
The New York Board of Trade's key March raw sugar contract eased 0.09 cent to finish at 11.28 cents a lb, its lowest settlement since November 1, after dealing from 11.36 to 11.25 cents. May futures fell 0.07 to end at 11.28 cents and deferred delivery contracts lost 0.07 to 0.10 cent.
Raws were pressured as the market edged into the low-end of a recent sideways trading range and as the US dollar extended a broad rally. But long term fundamentals looked better for sugar prices, traders and analysts said.