DJ MARKET TALK: ICE Sugar Rallies To 6 1/2-Mo Peak; Fund Buys
Published: 09/07/2010, 7:05:04 PM
DJ MARKET TALK: ICE Sugar Rallies To 6 1/2-Mo Peak; Fund Buys 1359 EDT [Dow Jones] - ICE October sugar rallied to a 6 1/2-month top of 21.52 cents as speculative fund money continued to pour into the market. Funds extended their net long position to 115,815 contracts as of Aug. 31, from 111,106 the week prior, CFTC data shows. "We're attracting fund money and funds are looking to buy food items in general," says Sterling Smith, analyst at Country Hedging in St. Paul. The ability of Oct sugar to hold above the key 20-cent area is supportive. Volume is pegged at 133,726 contracts, with 25,941 calls and 11,713 put options traded. Nearby October raw sugar added 0.85 cent, or 4.1%, to settle at 21.45 cents a pound. (TVS) Contact us at 913-322-5177; tom.sellen@dowjones.com (END) Dow Jones Newswires 09-07-10 1359ET 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 2010-09-07 17:59:20 UTC ^^^^^^