sugar price

1124 [Dow Jones] Global raw sugar prices to edge higher through 2010, forecasts Rabobank Australia. Looking ahead, market has priced in perfect weather conditions in Brazil, India in coming months, but any evidence of deteriorating weather conditions in either country could cause a significant rebound in futures, it says. Further evidence of continuing import demand would also be supportive, says house; forecasts nearby ICE futures contract to average 15.5 U.S. cents/lb in 2Q, 16.0 cents/lb in 3Q, 16.5 cents/lb in 4Q. World raw sugar futures for July delivery fell Friday because of pressure from a weak technical picture, follow-up selling from recent losses, with expected large crops out of Brazil, India providing fundamental pressure. Raw sugar futures for July delivery on ICE Futures U.S. fell 0.73 cent, or 4.9%, to settle at 14.19 cents/lb, near session low. ([email protected])