DJ MARKET TALK: ICE Sugar Dips In Consolidation
Published: 03/16/2010, 12:20:02 PM
DJ MARKET TALK: ICE Sugar Dips In Consolidation 0818 EDT [Dow Jones] - ICE world raw sugar futures are modestly weaker in consolidation. May sugar is down 6 points at 19.33 cents a pound, and the July contract is also 6 points lower at 18.60. Sugar prices look technically weak without a close above 20.20 basis May, a technical analyst says. Traders are waiting for end-user buying to enter the market at these relatively low prices. Ongoing drought in China's southern Guangxi Zhuang Autonomous Region, which produces 60% of the country's sugar, will reduce sugar output by 8%. Liffe May white sugar is up $2.10 at $543.30 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-16-10 0818ET 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 FSN42193 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-16 12:18:51 UTC ^^^^^^