DJ MARKET TALK: ICE Sugar Holds Support; India News Pressures
Published: 03/11/2010, 5:20:03 PM
DJ MARKET TALK: ICE Sugar Holds Support; India News Pressures 1219 EST [Dow Jones] - ICE world raw sugar futures are lower as traders liquidate positions, but holding technical support. May sugar is down 22 points at 19.47 cents a pound, off the 19.06 low. That level is also the 25-day moving average, which could serve as solid support, says Tom Mikulski, senior market analyst at Lind-Waldock in Chicago. News that Indian sugar mills are renegotiating physical contracts after prices fell has triggered more futures sales, Mikulski adds. Liffe May white sugar is down $5.60 at $531.50 a ton. (HEH) Contact us at 212-416-2138 or holly.henschen@dowjones.com (END) Dow Jones Newswires 03-11-10 1219ET 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 2010-03-11 17:19:39 UTC ^^^^^^