The Louis Dreyfus commodity fund, a $2 billion dollar fund is to accept no further investor money. The Louis Dreyfus Commodities Alpha Fund was created in 2008 and started with $100 million focussing on grains and softs, including sugar.
Assets managed by commodity funds are in the region of $200 billion.
UBS takes delivery of 84,000 tonnes of white sugar at expiry of the March No. 5 white sugar futures contract. The March white sugar futures contract expired last week. The sugar was delivered at Indian ports on FOB terms. Louis Dreyfus was the seller.
The May white sugar futures contract was down $4.5 to settle at $750.5 per tonne. While the March raw sugar futures contract is trading near its open at 31.29 cents per lb with volume currently at of 58,585.