DJ MARKET TALK: ICE Sugar Rises In Consolidative Trade
Published: 03/19/2010, 12:25:04 PM
DJ MARKET TALK: ICE Sugar Rises In Consolidative Trade 0817 EDT [Dow Jones] - ICE world raw sugar is modestly higher as the market continues to correct from a dive from 29-year highs. May sugar is up 17 points at 19.20 cents a pound, off the 19.45-cent intraday high. Analysts says sugar is likely to continue in consolidation with an upward objective of 20 points and support at 17.50 basis May. Futures bounced in the last two sessions, but still face selling pressure, they say. Prices dropped as world production came in higher than expected and end-users were unwilling to buy at highs. Liffe May white sugar is up $6.60 at $539.20 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-19-10 0821ET 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 FSN35412 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-19 12:21:13 UTC ^^^^^^