Cargill Takes Delivery of Almost 1 Million Tons of ICE Raw Sugar
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Cargill Inc. said that its sugar business took delivery of almost 1 million metric tons of the commodity as part of transactions involving expiring contracts at ICE Futures U.S. and handled by a unit of JPMorgan Chase & Co.
JPMorgan Futures accepted delivery on 18,748 ICE futures contracts, or the equivalent of 952,398 tons, from five brokers, the New York exchange said yesterday on its website. The delivery was the biggest for ICE since 2009. The sweetener was sent to the sugar unit of Minnetonka, Minnesota-based Cargill, Pete Stoddart, the director of media relations, said today in an e-mail.