DJ MARKET TALK: ICE Sugar Slides On Fund Sales, Strong Dollar
Published: 03/19/2010, 1:50:03 PM
DJ MARKET TALK: ICE Sugar Slides On Fund Sales, Strong Dollar 0943 EDT [Dow Jones] - ICE world raw sugar prices are erasing recent gains as funds liquidate. May sugar is down 54 points at 18.49 cents a pound, off the 18.45-cent intraday low. "Reversing today is not showing good follow-through buying from the last two days' rally," says Sterling Smith, market analyst at Country Hedging in St. Paul, Minn. The firmer dollar is also pressuring prices somewhat on continued Greek debt concerns, Smith says. May sugar has support at 18.35, he says. Liffe May white sugar is down $8.30 at $524.30 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-19-10 0947ET Copyright (c) 2010 Dow Jones & Company, Inc. DJ info: 83928 N/DJCS,N/DJOS,N/OSAG,N/OSCM,N/OSOV,N/OSTR,N/ALMT,N/CMD,N/CMM,N/DJMT,N/DJWI,N/MK ,N/SCD,N/SGR FSN3928 ACOTV COMMENTS FOOD SUGAR 2010-03-19 13:47:29 UTC ^^^^^^