DJ MARKET TALK: ICE Sugar Ends Down On Profit-Taking
Published: 09/03/2010, 7:40:04 PM
DJ MARKET TALK: ICE Sugar Ends Down On Profit-Taking 1433 EDT [Dow Jones] - ICE October sugar fell Friday as traders took a few profits ahead of the long Labor Day weekend. Futures raced to six-month highs this week as strong fund buying underpinned the market, buying that ebbed Friday and allowed prices to fall. Brazil's National Commodities Supply Corp. says sugar cane output for 2010-11 will rise 7.8% to a record 651.5 million metric tons. Dry conditions since April, however, will lead to smaller output in the next harvest, Barclays Capital says in a research note. Markets are closed Monday for the holiday. Volume is pegged at 106,839 contracts, with 10,798 calls and 3,195 puts traded. Nearby October raw sugar lost 0.21 cent, or 1%, to settle at 20.60 cents a pound. (TVS) Contact us at 913-322-5177; tom.sellen@dowjones.com (END) Dow Jones Newswires 09-03-10 1435ET 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 FSN36492 ACTV COMMENTS FOOD GENERAL SUGAR 2010-09-03 18:35:04 UTC ^^^^^^