DJ MARKET TALK: ICE Sugar Eyes Overseas Demand, US TRQ Increase
Published: 03/19/2010, 1:05:02 PM
DJ MARKET TALK: ICE Sugar Eyes Overseas Demand, US TRQ Increase 0903 EDT [Dow Jones] - ICE world raw sugar is faces bullish demand prospects at recent lows from overseas and the U.S., says a New York-based sugar broker/analyst. Talk of recent physical buying from India and Indonesia is supportive, and the possibility of a TRQ increase from the U.S. on April 1 is also supportive to sugar, the broker/analyst says. Some traders may be buying now to pre-empt higher prices if the U.S. does raise the TRQ, the broker/analyst notes. May sugar touched an eight-month low at 17.66 on Wednesday after plummeting from 29-year highs touched March 1. End-users were reluctant to buy at those levels. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-19-10 0903ET 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 FSN35558 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-19 13:03:13 UTC ^^^^^^