Wilmar International seen sole buyer of ICE raw sugar contract -traders
NEW YORK, June 30 (Reuters) - Wilmar International Ltd has bought about 460,900 tonnes of raw sugar against the July contract on ICE Futures U.S. that expired on Tuesday, U.S. traders said.
The 9,073 lots of sugar expected against the July contract would be worth $125 million, based on its closing price.
The July ICE raw sugar contract saw a wild day of trade ahead of its expiry, soaring 3.9 percent to settle at 12.28 cents a lb as traders raced to cover short positions.
The delivery was significant as Wilmar booked a record delivery against the contract just two months ago, when the May ICE contract. (Reporting by Chris Prentice; Editing by Bernard Orr)
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