News

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

Sugar
United Kingdom
United States
Published Feb 23, 2023

Tridge summary

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.

Original content

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 will begin in April. However, there are concerns about some Asian origins. See how the market closed in the last ...
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