July 1, 2016 / 1:32 PM / in 2 years

UPDATE 1-Wilmar, Alvean buy largest ICE July sugar delivery in 7 years

(Adds details, background)
    NEW YORK, July 1 (Reuters) - Wilmar International Ltd
 and Alvean are the buyers of about 1.2 million tonnes,
or 23,706 lots, of raw sugar from Brazil and Argentina against
the ICE July contract that expired on Thursday, according to
exchange data and traders.
    The delivery, worth more than $500 million, was the largest
against a July contract on ICE Futures U.S. in seven years,
according to ICE data.
    The buyers were J.P. Morgan Securities LLC and SG Americas
Securities LLC, according to the exchange data published on
Friday, said by traders to be acting on behalf of trade houses
Alvean and Wilmar.
    A spokeswoman for Alvean, the joint venture owned by Cargill
Inc and Copersucar SA, confirmed the purchase of about
197,000 tonnes of the delivery, which was reported by Reuters on
    Wilmar took the bulk of the large delivery, its sixth
straight purchase through the exchange. Wilmar and SG Americas
did not respond immediately to requests for comment.

 (Reporting by Chris Prentice; Editing by Bill Trott)
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