DJ MARKET TALK: India Sugar Conditions Prop Up ICE Prices-Fortis
Published: 07/02/2009, 7:25:02 PM
DJ MARKET TALK: India Sugar Conditions Prop Up ICE Prices-Fortis 1423 EDT [Dow Jones] - Lingering question's over the 2009-10 Indian sugar crop are underpinning ICE futures U.S. sugar prices, Fortis Bank says in a research note. Expectations for weaker-than-normal monsoon rains in India as well as resistance from mill owners to pay high minimum support prices may stymie an expected rebound in India's 2009-10 sugar crop, the note says. The crop is not likely to recover substantially as planted acreage for the new season at this point is nearly unchanged on the year. "A second season of India being a sugar importer is a strongly bullish signal for [ICE] futures' prices," Fortis says. (HEH) Contact us in Chicago at 312-750-4075; holly.henschen@dowjones.com (END) Dow Jones Newswires 07-02-09 1423ET Copyright (c) 2009 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 FSN46772 ACTV COMMENTS FOOD GENERAL SUGAR 2009-07-02 18:24:01 UTC ^^^^^^