Raw sugar futures finished softer on Friday on producer sales which blunted an advance stoked by fund buying, with the trade turning its focus to the expiry of the July contract next week, dealers said. The New York Board of Trade's July raw sugar contract fell 0.07 cent to close at 8.97 cents a lb., dealing from 8.96 to 9.10 cents. Active October shed 0.09 to 9.09 cents, ranging from 9.07 and a new contract high of 9.23 cents.
Technicians see support in the July contract at 8.90 and 8.60 cents, with resistance at 9.05 and then 9.12 cents.
Estimated volume just before the close of trade stood at 46,946 lots, from the prior 61,700 lots. Call volume reached 10,399 lots and puts came to 5,412 lots. Open interest in the No 11 raw sugar market fell 3,729 lots to 371,773 contracts as of June 22.
Ethanol futures ended unchanged, with the June ethanol contract settling at 117 cents a gallon. US domestic sugar futures ended mostly lower. September was flat at 21.17 cents a lb. while November Eased 0.03 to 20.42 cents.
Except for one contract, the rest shed 0.01 to 0.05 cent. Volume of business just before the close of trade stood at 323 lots, against the prior 211 lots.
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