DJ MARKET TALK: ICE Sugar Hits 7-Mo Low As Funds Sell On Charts
Published: 03/09/2010, 7:20:12 PM
DJ MARKET TALK: ICE Sugar Hits 7-Mo Low As Funds Sell On Charts 1417 EST [Dow Jones] - ICE world raw sugar futures settled near seven-month lows as funds sold on technical cues and pressure from the stronger U.S. dollar. Most-active May sugar settled down 125 points, or 6.2%, at 20.32 cents a pound, off the 20.22-cent low. Sugar continues to seek demand after falling from 29-year highs hit Feb. 1. Analysts say prospects for the upcoming Brazilian harvest will damp sugar gains as speculators sell on a less bullish fundamental picture. The greenback rose on continued debt concerns out of Europe, which pressured commodities including cotton and crude. Liffe May sugar settled down $34.50, or 6.2%, at $555.30 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-09-10 1417ET 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 FSN43704 ACTV COMMENTS FOOD GENERAL SUGAR 2010-03-09 19:17:44 UTC ^^^^^^