Raw sugar futures finished mixed after a rangebound session on Thursday in two-sided trade dealings following a dominated by July/October spreads ahead of the front-month's expiration on Friday, brokers said.
"You may see a little bit of volatility in the roll tomorrow," one trader said. The New York Board of Trade's benchmark October sugar contract fell 0.04 cent to close at 9.61 cents per lb., in a trading range from 9.57 to 9.77 cents.
The rest ranged from 0.07 lower to 0.17 cent higher. "It's been a pretty stale day. Very light trade," the trader said. The IntercontinentalExchange's NYBOT electronic market for sugar showed the October contract down 0.06 cent to 9.59 cents at 1:26 pm.
The July/October position rolling provided support but prices later weakened as the market looked for direction, bouncing around the unchanged mark. Open interest in the July contract fell 7,777 lots to 35,500 lots as of June 27. July goes off the board on Friday. Open-outcry volume was 12,469 lots, compared to Wednesday's tally of 17,539 lots.
Call volume was 11,759 lots and puts 4,797 lots. NYBOT said on Wednesday's screen trade were 54,076 lots and total volume 71,615 lots. Open interest in the No 11 raw sugar market dropped 2,788 lots to 664,226 lots as of June 27. No deals were done in the ethanol market.
US domestic sugar prices ended mixed with the September contract up 0.03 at 21.48 cents per lb. while November was flat at 21.11 cents. The rest ranged from steady to 0.02 lower. Screen volume traded on Wednesday in the No 14 sugar market hit 195 lots and 42 lots were traded in the pit. The electronic No 14 sugar market saw the September contract up 0.07 cent at 21.52 cents at 1:25 pm.
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