Sugar rose moderately this Monday with the USA's New York Stock and the UK's exchanges testing a new 12-year high

Sugar futures closed this Monday (06) with a moderate increase on the New York stock exchanges, which tested 12-year highs, and London. The market was supported by the appreciation of oil on the international scene, dollar, in addition to concerns about the supply of the sweetener. The most traded raw sugar maturity on the New York Stock Exchange (ICE Futures US) appreciated by 0.65%, at 27.95 cents/lb, with a maximum of 28.08 cents/lb and a minimum of 27.59 cents/lb lb. In London, the first contract rose 0.66%, trading at US$752.20 per ton. The oil market rose sharply at the beginning of the week, providing support for the advances in sugar, as it impacts the decision of the mills' mix, but ended up closing with a slight increase. The oil reflected the maintenance of supply cuts in Saudi Arabia and Russia. Furthermore, the dollar closed with a slight drop against the real, which tends to discourage exports and support external prices of the sweetener. In fundamentals, the lean ...