After a 3-week high, sugar retreats on the NY, US and London, UK stock exchanges this 6th

Published 2023년 8월 18일

Tridge summary

Sugar futures prices are experiencing losses on the New York and London stock exchanges due to profit-taking and financial fluctuations. The market closed down the previous day and this trend continues as operators remain cautious about the financial sector and recent advances. There are also indications of increased sugar production in Brazil, which could lead to further changes in the market.

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

Original content

Sugar futures prices operate with moderate losses on the New York and London stock exchanges this Friday morning (18). The sweetener market feels pressure from a profit-taking movement, in addition to accompanying financial fluctuations. Around 8:25 am (Brasília time), the most traded month of raw sugar on the New York Stock Exchange was down 0.67%, quoted at 23.84 cents/lb. In London, the first contract had a devaluation of 0.50%, at US$ 691.30 a ton. After testing three-week highs, the sugar market closed down on the eve with operators attentive to the financial sector, in addition to profit-taking in the face of recent advances. This movement continues to be seen this Friday. In addition, there are repercussions of signs of increased sugar production in Brazil. The National Supply Company (Conab) expects sugarcane production in Brazil at 652.9 million tons in the 2023/24 harvest. If confirmed, it will be a growth ...

Source: NoticiasAgricolas