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By Chris Prentice
NEW YORK, Nov 13 (Reuters) - Louis Dreyfus Commodities BV and RCMA Commodities scooped up 896 lots, or 44,800 tonnes, of refined sugar against the December contract on ICE Futures Europe that expired on Friday, traders said.
The cash delivery of sugar, worth about $17.7 million based on closing prices, was due from origins including India and Guatemala and was broadly in line with expectations for a small delivery, according to three U.S. traders.
Louis Dreyfus, one of the world’s biggest commodities merchants, was said to receive 496 lots and RCMA, which trades commodities including white sugar, coffee and rubber, bought the remaining 400 lots.
Neither trade house could immediately be reached for comment. The official expiry data was due to be published by the exchange on Monday.
The purchase was the smallest against the contract this year, according to data compiled by Reuters.
It was “neutral at best” for prices, said one trader, given stocks in India remain high and a sharp increase in the spot discount to second-month price ahead of the expiry that gave sellers the opportunity to roll positions forward.
The December refined sugar contract on ICE Futures Europe closed up $6.80, or 1.8 percent, at $394.50 on Friday. (Reporting by Chris Prentice; editing by James Dalgleish, G Crosse)