Wilmar seen as major seller in large May raw sugar delivery 11:57am EDT [Reuters]
WILMAR INTL LTD UNSP/ADR (WLMIY)
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Source: Reuters
Wilmar seen as major seller in large May raw sugar delivery | Reuters 3 Min Read NEW YORK (Reuters) - Three trade houses have scooped up over 1 million tonnes of Brazilian raw sugar against the May futures contract that expired on Monday, with Wilmar International seen selling more than half of it, according to ICE Futures U.S. data and traders. Many market participants view this as bearish, pointing to weak demand amid abundant global supplies, with traders saying Wilmar became a major seller after being a large buyer of raw sugar deliveries against ICE contracts in recent years. Wilmar, a Singapore-based trader, did not respond to a request for confirmation. The ICE May raw sugar delivery totaled 21,021 lots, about 1.07 million tonnes, down from 29,947 lots a year prior, ICE Futures U.S. data showed on Tuesday, confirming a Reuters report. Of this, traders said Wilmar sold 12,909 lots. July raw sugar futures pared losses after falling by as much as 2 percent to 11.52 cents per lb on
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