Sugar futures recover slightly in NY, but remain under pressure from Brazilian production

Sugar prices closed with slight increases on the New York and London stock exchanges this Monday (23). However, these small gains still keep prices at their lowest levels since mid-September, especially after significant drops last month. “Sugar prices closed higher on Monday, but the market remains cautious ahead of the Unica report expected later this week on Brazil's sugar production in the first half of December,” says Barchart. According to an analysis by Jim Roemer, commodities trading consultant at Best Weather, sugar prices fell due to improved weather in Brazil, a weak real, a large harvest in India and lower crude oil prices. On the New York Stock Exchange (ICE Futures), the March/25 contract rose 0.03 cents (0.15%), closing at 19.54 cents/lbp. May/25 rose 0.05 cents (0.28%), trading at 18.10 cents/lbp. July/25 rose 0.07 cents (0.40%), quoted at 17.67 cents/lbp, while October/25 appreciated 0.07 cents (0.40%), closing the day at 17.63 cents/lbp. On the London Stock ...