DJ MARKET TALK: ICE Sugar Edges To 6-Mo Top; Near Steady
Published: 09/02/2010, 2:40:03 PM
DJ MARKET TALK: ICE Sugar Edges To 6-Mo Top; Near Steady 0940 EDT [Dow Jones] - ICE October sugar is trading near steady, after edging to a new six-month peak of 20.55 cents a pound Thursday morning, supported by tight global stocks and continued strong demand. Indian firms contracted to export 320,000 metric tons of sugar in the marketing year that begins Oct. 1, amid expectations of increased production due to increased planted area and improved monsoon rains. USDA is working on a plan that would allow US farmers to plant genetically modified sugar beets next spring, despite a recent court ruling that banned planting of the seeds. The USDA says it has the authority to allow future plantings, at least on an interim basis. Nearby October raw sugar is up 0.03 cent, or 0.15%, to 20.52 cents a pound, just off the session top of 20.54. (TVS) Contact us at 913-322-5177; tom.sellen@dowjones.com (END) Dow Jones Newswires 09-02-10 0939ET Copyright (c) 2010 Dow Jones & Company, Inc. DJ info: 83742 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 FSN3742 ACOTV COMMENTS FOOD SUGAR 2010-09-02 13:39:39 UTC ^^^^^^