Sugar extends losses from the last session and falls more than 1% in NY, United States on Wednesday afternoon

Published 2024년 12월 18일

Tridge summary

Sugar prices on the New York and London stock exchanges have experienced a significant decline, with drops exceeding 1% for the main contracts. This comes after a steep fall in the previous session, with the March/25 contract in New York seeing a drop of over 4%. The price decrease is attributed to an unexpected increase in sugarcane crushing at Brazilian sugar mills, as reported by Barchart and Safras & Mercado. These agencies note that favorable weather conditions have aided in exceeding production estimates, leading to a surplus in the market and putting downward pressure on prices.

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

Original content

Sugar prices continue to fall this Wednesday (18) and record drops of over 1% among the main contracts on the New York Stock Exchange. In London, the decline in white sugar is smaller, but still close to 1%. Thus, prices extend the steep drops recorded in the last session, which exceeded 4% in NY in the March/25 contract. At around 12:00 pm (Brasília time) in New York, the March/25 contract fell 0.18 cents/lbp, quoted at 19.66 cents/lbp, while May/25 lost 0.18 cents/lbp, at 18.35 cents/lbp. July/25 was trading down 0.19 cents/lbp, at 17.87 cents/lbp, and October/25 was down 0.19 cents/lbp, worth 17.83 cents/lbp. In London, contracts were also trading lower. March/25 fell by US$2.40, trading at US$512.60/ton, while May/25 fell by US$3.00, trading at US$513.90/ton. August/25 fell by US$3.70, to US$502.60/ton, and October/25 was trading at US$496.20/ton, with a loss of ...

Source: NoticiasAgricolas