Brazil: Sugar ends Tuesday with an increase of more than 1.5% on the US and UK Stock Exchange

Published 2024년 1월 30일

Tridge summary

Sugar futures contracts experienced a rise of over 1.50% on the New York Stock Exchange and a minor increase in London, driven by oil prices and technical adjustments. The most traded raw sugar maturity saw a 1.61% appreciation. The market is also monitoring the lower-than-anticipated harvests in India and Thailand, as well as concerns about Brazil's 2024/25 harvest. However, sugar prices in the São Paulo spot market remained relatively stable due to low demand for ready-to-deliver purchases.

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

Original content

Sugar futures contracts ended this Tuesday's session (30) with an increase of more than 1.50% on the New York Stock Exchange and light in London. The market received financial support from oil, in addition to technical adjustments in light of the losses recorded in recent days. The most traded maturity of raw sugar on the New York Stock Exchange appreciated by 1.61% on the day, at 23.91 cents/lb, with a maximum of 24.02 cents/lb and a minimum of 23.29 cents/lb. At the London terminal, the first contract rose 0.09%, to US$662.70 per ton. After three consecutive sessions of decline, the sugar market rose again this Tuesday on external exchanges with support from position adjustments. Furthermore, sweetener prices followed oil fluctuations in the financial market. Crude oil jumped more than 1% this Tuesday afternoon abroad. Oil fluctuations tend to directly impact the plants' production decision, whether they will focus more on sweetener or ethanol, based on which is more profitable. ...

Source: NoticiasAgricolas