DJ MARKET TALK: ICE Sugar Probes Lower In Range As Funds Sell
Published: 03/09/2010, 1:20:03 PM
DJ MARKET TALK: ICE Sugar Probes Lower In Range As Funds Sell 0816 EST [Dow Jones] - ICE world raw sugar futures are trading off of their lowest levels since late November spec fund selling pushes prices lower in range, analysts say. May sugar is down 67 cents at 20.90 a pound, off of the 20.74 low and the weakest price since Nov. 27. The contract is seen near support at 20-22 cents as the market backs off 29-year highs prompted by a world supply deficit, analysts say. India's 2009-10 sugar output is expected to come in at 16.8 million tons, up from the government estimate of 16 million tons, says the president of the Indian Sugar Mills Association. Guatemala has shipped 200,000 tons of sugar to Mexico this year, according to the country's sugar growers association. Liffe May white sugar is down $17 at $572.80 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-09-10 0816ET 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 FSN42538 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-09 13:16:43 UTC ^^^^^^