Sugar rises again on the NY, United States and London, United Kingdom stock exchanges this Thursday before the holiday

Sugar

United States

United Kingdom

Market & Price Trends

Published Mar 28, 2024

Tridge summary

Sugar futures prices experienced a notable increase on both the New York and London stock exchanges, primarily driven by concerns over supply shortages and rising oil prices. The most actively traded raw sugar contracts in New York rose by 0.81%, while those in London saw a 1.08% increase. This surge in prices is partly attributed to the American Sugar Coalition's efforts to cut sugar imports from Mexico by 44%, alongside market reactions to the closure of a significant East Coast port in the U.S. Additionally, the market is undergoing technical adjustments in anticipation of the Good Friday holiday, which will result in the closure of the New York Stock Exchange.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Sugar futures prices operate with a moderate to significant increase on the New York and London stock exchanges this Thursday (28). The market rises again following concerns related to supply, in addition to the rise in oil prices internationally. At around 8:27 am (Brasília time), the most traded maturity date for raw sugar on the New York Stock Exchange had increased by 0.81%, quoted at 22.37 cents/lb. In London, the main maturity had an appreciation of 1.08%, trading at US$ 652.60 per ton. The American Sugar Coalition wants the government to reduce the amount of sugar Mexico can send to the United States by 44%, which could increase prices. Furthermore, prices follow the developments surrounding the closure of one of the main ports on the East Coast of the United States. The North American market is also technically positioning itself ...

Source: NoticiasAgricolas