Bunge takes delivery of 500,000 tonnes of sugar

More than 500,000 tonnes of ICE October raw sugar has gone to delivery with Bunge thought to have taken most of the 11,000 plus lots.  The market will wait to see what Bunge intends to do with such a large delivery of sugar and what the destination will be once vessels are nominated.   The move could add further bearish pressure.  October raw sugar closed at an 84 cent discount to March raws indicative of the surplus sugar on the market.

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