Adam Sarhan Dow Jones Newswire Quote: MARKET TALK: Sugar Futures Push Still-Higher

Dow Jones Newswire

14:14 EST – Raw-sugar futures got a boost Tuesday from traders worried about the possibility of tighter supplies next season. Low prices could discourage farmers from planting sugarcane, and rising demand for ethanol in Brazil and the US could also shrink supplies. “So far, it appears that the bulls are doing their best to defend support just below” 19/c pound, says Sarhan Capital’s Adam Sarhan. But if that is breached, “a new technical sell signal will be triggered.” ICE sugar for March delivery settled 1.4% higher at 19.59c. (alexandra.wexler@dowjones.com) [ 11-06-12 1414ET ]

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