ICE sugar tad down on expectation of higher output.

Futures contracts of ICE raw sugar fell slightly due to expectations of a higher output globally in 2017-18, largely helped by a rise in production in Brazil. Mills in Brazil’s centre south region produced 1.75 mln tn of sugar during May 16-31, up 4% from 1.69 mln tn LY, the country’s sugarcane industry association, known by its Portuguese acronym UNICA. Most active October contract on ICE traded at 13.80 cents a pound, down 0.1% from the previous close.