Sugar prices rise on international exchanges with funds maintaining a long position

Sugar prices closed higher on Tuesday (29) on international exchanges after having reached a two-week low in New York, on ICE Future, on Monday. According to analysts heard by Reuters, "with funds now holding a large long position, they are unlikely to try to push prices much higher". The March/23 ICE contract in NY closed yesterday at 19.53 cents per pound, 15 points more than the previous day's prices. The May/23 screen rose 11 points, trading at 18.46 cts/lb. The other maturities appreciated between 5 and 10 points. Also according to Reuters, "the market may now be stuck in the 19.00-20.00 cents range for some time," a US broker said, adding that fund buying looked limited ahead and Brazilian mills would likely have a strong end to the season, as there is still a large amount of sugarcane to be processed". London In London, white sugar closed higher on most lots of ICE Futures Europe. The March/23 maturity was contracted yesterday at US$ 533.70 a ton, appreciation of 5.10 ...