DJ Market Summary
Published: 07/18/2012, 9:11:35 PM
DJ MARKET TALK: Raw Sugar Edges Higher on Supply Concerns, USD 14:49 EDT - Raw sugar for October delivery tested all the way back to 22.20c/lb before settling at 22.95c/lb, up 0.7% on the day, as the market got a boost from ongoing concerns that recent rains have reduced the sugar content of the crop in top-producer Brazil. "It had a nice comeback," says ICAP Futures' Drew Geraghty. He says the US dollar, which weakened throughout the day, also helped sugar retrace early losses. "Maybe what were seeing here is some basket-type buying into (agricultural commodities) as a whole," he says.