Raw sugar futures prices rise on ICE due to rains in the Center-South, Brazil
Published 2022년 12월 8일
Tridge summary
ICE raw sugar futures contracts have seen a increase due to interruptions in the sugarcane harvest in Brazil's Center-South region, caused by recent rains. The interruptions have led to difficulties in harvesting, resulting in most mills shutting down cane crushing for the season. Despite current crop issues, traders believe the rains will be beneficial for next year's crop. Meanwhile, white sugar for March has also seen a slight increase.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
ICE raw sugar futures contracts closed higher on Wednesday, 7, supported by interruptions in the sugarcane harvest in the Center-South, caused by recent rains. March raw sugar advanced 0.09 cents, or 0.5%, to 19.48 cents a pound. Most Brazilian mills are shutting down cane crushing for the season, leaving millions of tons of raw material in the fields to be harvested next year as rains make harvesting operations difficult and inefficient. Traders said that despite the current ...
Source: Novacana
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