Raw sugar prices reeled from speculative sales and switch trade to close softer Tuesday and the process of moving positions out of the spot contract before it expires this month is tipped to dominate trading for the rest of June, analysts said.
The New York Board of Trade's July raw sugar contract dropped 0.30 cent or 1.9 percent to end at 15.09 cents per lb, moving between 15.03 and 15.22 cents. October lost 0.27 to 15.46 cents. One contract aside, the rest fell 0.23 to 0.26 cent.