DJ MARKET TALK: ICE Sugar Hits Fresh Low On Chart-Based Sales
Published: 03/16/2010, 6:30:10 PM
DJ MARKET TALK: ICE Sugar Hits Fresh Low On Chart-Based Sales 1423 EDT [Dow Jones] - ICE world raw sugar futures dropped to their lowest levels in more than eight months as weak technicals sparked liquidation. Nearby and most-active May sugar settled 115 points lower, or 6.3%, at 18.24 cents a pound. In late trade, the contract hit 18.02 cents--its lowest price since July 10. A lack of buying interest enhanced the freefall, analysts say. The market has been weak since falling back from 29-year highs, where end-user buying faded amid higher-than-expected production in key countries. Liffe May white sugar down settled $19.80, or 3.8%, at $521.40 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-16-10 1424ET 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 FSN43335 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-16 18:24:06 UTC ^^^^^^