DJ MARKET TALK: ICE Sugar Posts Modest Gain As Shorts Cover
Published: 03/17/2010, 6:30:06 PM
DJ MARKET TALK: ICE Sugar Posts Modest Gain As Shorts Cover 1424 EDT [Dow Jones] - ICE sugar futures found support at eight-month lows as traders covered short positions in the oversold market. May sugar settled 9 points higher, or 0.5%, at 18.33 cents a pound. Futures are prone to a sharp bounce from oversold conditions, but may see more near-term losses in the volatile market conditions. Sugar prices have dropped sharply from 29-year highs as fears of a supply deficit gave ways to higher-than-expected production and reluctance to buy at high levels. Liffe May white sugar settled up 10 cents, or 0.01%, at $521.50 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-17-10 1426ET 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 FSN46620 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-17 18:26:09 UTC ^^^^^^