Raw sugar futures fell in the face of speculative and fund sales in early business on Wednesday, and the trade was expected to keep a cautious eye on turmoil in global markets, brokers said. ICE Futures electronic March sugar declined 0.15 cent to 11.40 cents per lb at 9:42 am EST (1442 GMT), trading 11.37 to 11.65 cents.
"You had some spec and fund pressure in there, but people are watching the rest of the (commodity) complex and looking for signs on what happens next," a floor dealer said. Trading volume on Wednesday in the electronic March sugar contract was at 18,883 lots at 9:44 am. Open-outcry volume at 9:00 am was at 604 lots. Open-outcry volume in the sugar market Tuesday hit 28,123 lots and screen trade totalled 262,445 lots, according to exchange data.