The traders estimate that the ICE raw sugar shipment for October will be around 1.7 million tons.

According to three sugar traders, the estimated raw sugar deliveries at the end of the contract for October on ICE were around 33,500 tons or 1.7 million metric tonnes.

The traders said that Wilmar International, a commodities trader based in Singapore, was the only receiver of sugar. Sucden is the largest supplier with 22,500 lots. The traders also said that Viterra and Louis Dreyfus delivered sugar at the expiry.

ICE will publish official data about the delivery of Tuesday.

ICE's highest-ever contract volume was 56,470 lots, but this year the delivery is lower. It is still a significant amount and the third highest for the contract in October since 1989.

A sugar broker in the United States said, "It was bigger than I thought."

The market expected a range of 800,000 to 1.5 million tonnes.

The market is generally viewed as being bearish when large deliveries are made. This indicates that traders couldn't find better deals on the physical market. (Reporting and editing by Jonathan Oatis, Chizu Nomiyama, and Marcelo Teixeira)

(source: Reuters)