DJ MARKET TALK: ICE Sugar Tumbles As Dollar Hits Commodities
Published: 03/04/2010, 2:35:11 PM
DJ MARKET TALK: ICE Sugar Tumbles As Dollar Hits Commodities 0931 EST [Dow Jones] - ICE world raw sugar futures are trading near intraday lows as the strong dollar weighs on most commodities prices. May sugar is down 53 points at 21.52 cents a pound, off the 21.45 low. Most commodities, including metals and crude, are weaker. The dollar is gaining as investors seek a safe haven amid lingering concerns over Greece's debt. Analysts note demand from end users at current levels is not particularly robust. Futures could probe lower within the 20-22-cent support area, says a New York-based sugar broker/analyst. Liffe May white sugar is down $16.50 at $603 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-04-10 0933ET Copyright (c) 2010 Dow Jones & Company, Inc. DJ info: 83928 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 FSN3928 ACOTV COMMENTS FOOD SUGAR 2010-03-04 14:33:11 UTC ^^^^^^