Sugar starts this Thursday's session with appreciation in the US and UK

Published 2023년 2월 23일

Tridge summary

Sugar futures contracts experienced a slight increase in both the New York and London stock exchanges on Thursday, driven by a positional adjustment following the previous session's decline. The slight uptick was observed in the main raw sugar contract on the New York Stock Exchange (ICE Futures US), with a 0.25% rise to 19.95 cents/lb, and in the London terminal, where the advance was 0.19%, at US$ 568.10 a tonne. The market's performance is supported by concerns over the global economy, as reflected in the drop in oil prices, and expectations surrounding the 2023/24 crop in Brazil's Center-South region, which is due to begin in April. However, the market faces uncertainties related to some Asian origins.

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

Original content

Sugar futures contracts began this Thursday's session (23) with a slight rise in the New York and London stock exchanges. The market has support from an adjustment of positions, after the previous session which closed in the red at the terminals. Around 8:41 am (Brasília time), raw sugar was up 0.25% in the main contract on the New York Stock Exchange (ICE Futures US), quoted at 19.95 cents/lb. At the London terminal, the advance was 0.19%, at US$ 568.10 a tonne. In the previous session, the sugar market followed a drop in oil amid fears about the global economy. Oil oscillations have a direct impact on the mills' decision on sugar and ethanol. In addition, expectations are positive with the 2023/24 crop in the Center-South of Brazil, which ...

Source: NoticiasAgricolas