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

Published 2024년 12월 23일

Tridge summary

Sugar prices on the New York and London stock exchanges saw a slight increase on Monday, but remain at their lowest since mid-September following significant drops last month. The market is now cautious ahead of a expected Unica report on Brazil's sugar production in the first half of December. The rise in prices was 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, prices for various contracts ranged from 17.63 to 19.54 cents/lbp, while on the London Stock Exchange, prices ranged from US$ 491.00 to US$ 512.20 per ton. In Brazil, the price of sugar varied in different regions.

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

Original content

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 ...

Source: NoticiasAgricolas