Raw sugar prices closed at a five-month low Tuesday on speculative fund liquidation tied to players moving positions out of the spot month before the contract goes off the board at month's end, brokers said.
The New York Board of Trade's July raw sugar contract fell 0.19 cent to end at 14.72 cents per lb, ranging between 14.57 and 14.84 cents. On a spot basis, it was the lowest finish for sugar since ending at 14.71 cents January 11. Active October shed 0.17 to 15.10 cents. Back months lost from 0.16 to 0.20 cent.