DJ MARKET TALK: ICE Sugar Bounces; Seen In Consolidative Trade
Published: 03/18/2010, 12:15:06 PM
DJ MARKET TALK: ICE Sugar Bounces; Seen In Consolidative Trade 0807 EDT [Dow Jones] - ICE world raw sugar futures are bouncing higher as the oversold market consolidates recent losses. May sugar is up 13 points at 18.48 cents a pound, off of the 19.07 intraday high. Sugar prices were due for a bounce after dropping 35% in the last month and a half, analysts say. Futures are expected to consolidate near recent trading levels. India's sugar production is expected to reach 17 million tons this year, the federal farm minister says. The company has decided to keep sugar imports tax-free despite the fall in prices. Liffe May white sugar is up $2.10 at $523.60 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-18-10 0810ET 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 FSN63319 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-18 12:10:50 UTC ^^^^^^