Sugar drops more than 1% on this 3rd and is back below 20 cents/lb in New York and London stock exchanges

Published 2023년 1월 3일

Tridge summary

Sugar futures contracts saw a decline of over 1% on both the New York and London stock exchanges due to financial pressure and information from Brazil and India. The most traded month of raw sugar on the New York Stock Exchange fell 1.70%, quoted at 19.70 cents/lb, and in London, the first contract had losses of 1.24%, at US$ 547.50 a tonne. The drop in oil, a strong dollar against the real, and sugar production data from Brazil and India are contributing factors to the decline.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Sugar futures contracts ended this Tuesday (03) with a fall of more than 1% on the New York and London stock exchanges. The sweetener market felt strong financial pressure, in addition to information about Brazil and India in recent days. The most traded month of raw sugar on the New York Stock Exchange fell 1.70% on the day, quoted at 19.70 cents/lb, with a high of 20.02 cents/lb and a low of 19.64 cents/lb. In London, the first contract had losses of 1.24%, at US$ 547.50 a tonne. Sugar prices on the New York Stock Exchange even lost the level of 20 cents/lb on the day. Since the early hours of the morning of this first session of 2023, prices have retreated after a positive 2022 for futures for the fourth consecutive year. The greatest pressure, however, came from finance. Oil fell about 3% on external exchanges on Tuesday with repercussions from weak demand data from China and a bleak economic outlook weighing on quotations. The drop in oil impacts all products related to the ...

Source: NoticiasAgricolas