DJ MARKET TALK: ICE Sugar Bounces Higher In Recovery
Published: 03/18/2010, 6:25:01 PM
DJ MARKET TALK: ICE Sugar Bounces Higher In Recovery 1419 EDT [Dow Jones] - ICE world raw sugar futures settled higher as futures bounced in recovery from recent steep losses. Larger-than-expected sugar supplies ran into weak demand near 29-year highs and prices collapsed. The nearby and most-active May sugar contract settled up 19.03 points, or 3.6%, at 19.03 cents a pound. Traders covered shorts, which boosted May sugar above 19 cents, a technical advance analysts say sets the market up for more gains. Physical demand could return at these levels if the market stabilizes, one trader notes. Liffe May white sugar settled up $11.10, or 2%, at $532.60 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-18-10 1422ET 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 FSN33684 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-18 18:22:48 UTC ^^^^^^