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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (8363)	8/16/2006 4:31:28 PM
From: elmatador	Respond to of 217830

Flight 923 was escorted by fighter jets to Boston where it landed without incident: 60-year-old woman was apparently claustrophobic and became disruptive on the flight. sabcnews.com This is becoming really funny!!

To: Moominoid who wrote (8363)	8/18/2006 3:52:05 PM
From: elmatador	Respond to of 217830

Sugar faces more losses on heavy supply, weak demand. Sales of flex-fuel cars in Brazil hit 2 mln mark Message 22732968 No between harvests high prices, I guess. Sugar faces more losses on heavy supply, weak demand Fri Aug 18, 2006 1:18 PM GMT By David Brough LONDON (Reuters) - Sliding sugar futures may have yet to find a floor due to big global supply and soft demand, traders said on Friday. Benchmark London refined sugar futures have sunk by almost a quarter since July 6, when they finished at $490.00 per tonne. On Friday the market was up $4.90 at $384.90. Spot New York raw sugar futures ended down more than three percent at 8-1/2-month lows on Thursday, depressed by speculative and fund selling amid flagging physical demand. "I think whites could fall another $20-30 below current levels. There is a lack of physical offtake and a big Brazil crop progressing faster than expected," a London trader said, referring to the world's biggest producer. Traders said late August was traditionally a depressed period for the global sugar market as the main centre-south Brazil cane harvest was in full swing, and the northeast Brazil harvest was about to get into gear. Russia, the world's biggest raw sugar importer, is harvesting a big beet crop, while Ukraine is expecting a larger crop this year than in 2005. Speculators and investment funds have dumped long positions in sugar futures on surging supplies as farmers from Russia to Thailand have increased sugar plantings to take advantage of a rise in raw sugar prices. Benchmark raw sugar futures hit a 25-year peak at 19.73 cents a lb in early February. London-based merchant Czarnikow has forecast a surplus of 3.1 million tonnes in 2006/07, and Paris-based consultancy Societe J. Kingsman has put the surplus at 3.3 million tonnes. Traders talked of a large trade house predicting an even bigger surplus, but there was no official confirmation. Prices needed to fall to attract cash buying as stocks at origin and destination, in countries such as India and Russia, appeared to be comfortable and well-managed, traders said. One trader said New York raw sugar prices had potential to fall towards 11 cents with Brazilian production costs at around 9.5-10.0 cents. New York Board of Trade's raw sugar contract for October delivery fell 0.45 cent to settle at 12.20 cents on Thursday, the lowest since November 30, 2005. Traders noted signs that physical offtake was picking up. Egypt has bought 20,000 tonnes of raw sugar for October shipment, and traders talked of Tunisian buying of a couple of cargoes of whites for delivery late this year. "Romania may also have picked up some tonnage. Meanwhile, we hear that Russian buyers are taking advantage of the drop in price to pick up some sugars for early January arrivals," a European broker said in a daily report. Traders also noted that the discount on prompt Brazilian very high polarisation (VHP) raw sugar against October New York futures had slipped to 0.50 cents a lb from 0.70 last week, suggesting that cash demand was picking up.