DJ MARKET TALK: Liffe Sugar Edges Lower On Profit Taking
Published: 07/02/2009, 11:15:06 AM
DJ MARKET TALK: Liffe Sugar Edges Lower On Profit Taking 1012 GMT [Dow Jones] Liffe white sugar futures trade slightly lower on profit taking after hitting a fresh three-year high Wednesday, according to second month continuation charts. "People are starting to sell or go short of the market," says London-based broker. "These levels are pretty heady." With one trade house taking delivery of 1.34 million tons of raw sugar on the US market, people are likely to take a step back from the market which will see prices come off, says London-based broker. Adds the market could also drift lower on a lack of physical demand. August -$3.80, or 0.8%, at $455.80/ton. New York's most-active raw sugar futures -14 points, or 0.8%, at 17.60 cents a pound. (SMC) Call us in London: 44 20 7842 9415 E-mail: londonsofts@dowjones.com (END) Dow Jones Newswires 07-02-09 0612ET Copyright (c) 2009 Dow Jones & Company, Inc. DJ info: N/DJCS,N/DJOS,N/OSAG,N/OSCM,N/OSTR,N/ALMT,N/ANL,N/CMD,N/DJMT,N/DJWI,N/SCD,N/SGR N/STK FSN44678 ACTV FINANCIAL FOOD GENERAL STOCKS SUGAR 2009-07-02 10:12:19 UTC ^^^^^^