DJ MARKET TALK: Fund Sales Pressure ICE Sugar
Published: 03/08/2010, 7:40:02 PM
DJ MARKET TALK: Fund Sales Pressure ICE Sugar 1432 EST [Dow Jones] - ICE world raw sugar posted losses under pressure from speculative fund liquidation, an analyst says. May sugar settled down 62 points, or 2.8%, at 21.57 cents a pound. Light buying at lows and talk of physical demand helped avert more losses, says Alex Oliveira, a sugar broker/analyst at Newedge in New York. May futures need to close above 22 cents to avoid a test of 20-cent support, Oliveira says. Liffe May white sugar settled down $19.70, or 3.3%, at $589.80 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-08-10 1436ET Copyright (c) 2010 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 FSN40624 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-08 19:36:10 UTC ^^^^^^