Moderate delivery, CentAm sugars seen at whites expiry

jueves 11 de febrero de 2016 10:24 GYT
 

By David Brough

LONDON Feb 11 (Reuters) - A moderate delivery tonnage comprising Central American and possibly other origins including India is expected at Friday's expiry of the March white sugar futures contract on ICE Futures Europe.

One senior trade source on Thursday said he expected a delivery of some 200,000-300,000 tonnes of white sugar, primarily from Central America and India, although the final tonnage would depend on activity in the March/May spread.

A London-based broker said one or two trade houses were thought to be preparing to take delivery of sugars at the March expiry, which were likely to come from Central America and India.

Another broker said the delivery could be some 300,000-400,000 tonnes, and origins could include Thailand and Brazil as well as Central America and India.

With two trading sessions to go before March expires, open interest was 8,763 lots (438,150 tonnes).

At the previous expiry of the December contract, Louis Dreyfus Commodities BV and RCMA Commodities picked up 896 lots, or 44,800 tonnes, of refined sugar.

At the October white sugar expiry, 114,450 tonnes were delivered, the smallest delivery against the white sugar contract since March 2015. (Reporting by David Brough; Editing by Susanna Twidale)