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LONDON, Dec 8: London white sugar futures edged lower on producer selling at midday on Thursday, and traders said the market still appeared overbought near nine-year peaks and risked a sharp fall. Front-month March fell $3.10 to stand at $329.30 per ton in volume of 270 lots at 1134 GMT, having moved from $331.00 to $329.30. May dropped $2.90 to $339.50 in volume of 28 lots. We’ve seen some European producer selling in light volumes this morning, one trader said. Traders said prices might drop further if physical demand failed to meet market expectations. Physical sugar brokers referred to a lack of raw sugar demand.—Reuters
