UPDATE 1-ED&F Man takes large volume of white sugar at ICE October expiry, traders say

·1-min read

(Adds details on deliveries, comment from analyst)

By Marcelo Teixeira

NEW YORK, Sept 15 (Reuters) - Commodities trader ED&F Man will receive 124,800 tonnes of white sugar to be delivered against the expiration of the October contract at ICE exchange, according to preliminary information from traders on Wednesday.

It was a large delivery for the October contract, double the size seen for the August position that expired in July. Sugar trader Sucden Middle East was seen as the largest deliverer with 99,400 tonnes, or 1,988 lots.

Smaller deliverers included Wilmar and Louis Dreyfus, the traders said.

ICE exchange is expected to release official data on the October expiry on Thursday.

"Man is becoming bullish," said one of the sources following the whites market. "Taking risks or doing well in receiving everything? Maybe both," he added.

The October white sugar contract rose 10% this week to hit the highest price since March 2017 on Wednesday at $511.90 per tonne.

According to the preliminary information from the traders, ED&F Man was the one buying aggressively during the last three sessions, positioning to take delivery of the sugar.

The sugar market has been trading in a range recently as production losses in Brazil seemed to be priced in and demand appeared to be lackluster.

"Sounds like Man turned around their positions completely. ... Must be seeing a change in the import tide," one of the sources said.

The traders said all the deliverable sugar on ICE was from India. Brazil, a traditional origin on the deliveries, was not in the cards this time, they added. (Reporting by Marcelo Teixeira)

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