USA: Sugar soars on the NY Stock Exchange this Monday and approaches 23.50 cents/lb

Sugar futures contracts ended the session this Monday (03) with significant increases in the New York and London stock exchanges. In the North American terminal, for example, the prices of the sweetener are already looking for the level of 23.50 cents/lb. The market had support on the day of adjustment of positions in view of the recent and financial lows, but it also reflects the delivery of the July contract below expectations. The most traded month of raw sugar on the New York Stock Exchange appreciated by 2.33% on the day, at 23.32 cents/lb, with a high of 23.61 cents/lb and a low of 22.78 cents/lb. In London, the first contract jumped 1.97%, trading at US$ 640.60 a tonne. After falling in recent days with the progress of the harvest and crushing of the 2023/24 crop of sugarcane in the Center-South, in addition to a favorable climate for work at least until July, sugar began to rise in adjustments to the Friday and continued this Monday. Gains were extended on the day ...