DJ MARKET TALK: ICE Sugar Lower On Weak Crude, Strong Dlr
Published: 07/02/2009, 6:50:03 PM
DJ MARKET TALK: ICE Sugar Lower On Weak Crude, Strong Dlr 1344 EDT [Dow Jones] - ICE sugar futures closed lower with the most-active Oct contract ending down 17 points at 17.58 cents a pound. The market consolidated in a "wait and see" day after a record delivery in the July contract left market players wondering what will happen next. "A look at previous big deliveries shows no clear tendency of market direction after a big delivery though perhaps the risk of taking such a large quantity of sugar when the price is at the second highest level in 28 years is greater than normal," says a broker. An ease in crude oil prices below the $68 a barrel level and a stronger dollar also weighed on sugar futures. (AMC) Contact us in Chicago at 312-750-4075. (END) Dow Jones Newswires 07-02-09 1345ET Copyright (c) 2009 Dow Jones & Company, Inc. DJ info: 61025 N/DJCS,N/DJOS,N/OSAG,N/OSCM,N/OSTR,N/ALMT,N/CMD,N/CMM,N/DJMT,N/DJWI,N/MKT,N/SCD N/SGR FSN46686 ACTV COMMENTS FOOD GENERAL SUGAR 2009-07-02 17:45:20 UTC ^^^^^^