India sugar futures likely down; expiry pressure

Singapore - India sugar futures likely to open down on unwinding of positions ahead of expiry, weak local demand. "Traders are likely to sell their positions in June contract as the exchange will reduce the position limits from tomorrow,"

says Kapil Gandhi, analyst with STCI Commodities

. Position limit for clients in near-month contract will be 6,000 tons vs 7,500 tons. Gandhi expects June contract on NCDEX to trade in INR2,320-INR2,360/100 kg. It last ended down 1% at INR2,349.

Published on 2009-05-20 09:30:28

http://www.moneycontrol.com/commodity/comm_news.php?autono=97779&type=MKT