DJ MARKET TALK: ICE Sugar Drops Under Liquidation Pressure
Published: 03/04/2010, 7:40:03 PM
DJ MARKET TALK: ICE Sugar Drops Under Liquidation Pressure 1439 EST [Dow Jones] - ICE sugar settled weaker as spec and commercial liquidation led prices below 22-cent support. May sugar settled 38 points lower, or 1.7%, at 21.67 cents a pound. Analysts say physical sales are being made as prices back off 29-year highs, though traders are focusing now on expectations for a large Brazilian crop in the upcoming season. Technically, futures are oversold and due for a rally, an analyst says. Liffe May white sugar settled down $27.50, or 4.6% at $592 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-04-10 1439ET 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 FSN33967 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-04 19:39:53 UTC ^^^^^^