Raw sugar futures closed at a near four-week low on Tuesday as speculative selling and contract rollover pushed prices below a key support level, but steady trade buying helped limit losses, dealers said.
Futures extended a two-week pullback from the 4-1/2-year high reached early this month, as funds further trimmed their massive long position in sugar.
The New York Board of Trade's key October raws contract slipped 0.12 cent to 9.62 cents a lb, its lowest settlement since July 20, dealing from 9.74 to 9.60 cents. March sugar shed 0.15 cent to 9.90 cents. The rest of the board fell 0.07 to 0.13 cent.