Raw sugar futures were little changed Wednesday as the market consolidates after slipping to its lowest in more than a week yesterday, floor sources said. New York Board of Trade March raw sugar dove 0.27 cent or 2.9 percent to end Tuesday at 8.95 cents a lb, moving from 8.91 to 9.05 cents. It was the lowest close for the contract since closing at 8.90 cents on January 24. May sugar shed 0.22 to 9.32 cents and losses in the back months ranged between 0.08 and 0.20 cent.

Speculative long liquidation has hammered the sweetener after producer sales capped it at its highs last week.

Technicians see resistance in the March contract at 9.02 and then 9.32 cents. Support lies at 8.90 and in layers down to 8.50 cents. Ethanol futures ended unchanged, with February at 95 cents a gallon.

US domestic sugar ended mostly lower.

Copyright Reuters, 2005