In profit-taking, sugar retreats sharply on New York in the US and London stock exchange in the UK this Monday
Sugar
United States
United Kingdom
Published Mar 6, 2023
Tridge summary
Sugar futures operated with a sharp fall on the New York and London stock exchanges this Monday morning (06). The market feels pressure from a profit-taking movement, in addition to oil in the financial sector. Around 7 am (Brasília time), raw sugar was down 1% in the main contract on the New York Stock Exchange (ICE Futures US), at 20.71 cents/lb. In London, the low was 1.43%, at US$ 580.00 a ton. After closing last week close to 21 cents/lb amid concerns about the Indian crop due to adverse weather, the sugar market adjusts at the start of a new week. In addition to a natural profit-taking movement, there is pressure associated with the devaluation of oil. The oil oscillations impact the decision of the plants in the Center-South of Brazil in the option of sugar or ethanol. See how the market closed in the last session: » Sugar closes the week close to 21 cents/lb amid fears about the Indian harvest.
Original content
Sugar futures operated with a sharp fall on the New York and London stock exchanges this Monday morning (06). The market feels pressure from a profit-taking movement, in addition to oil in the financial sector. Around 7 am (Brasília time), raw sugar was down 1% in the main contract on the New York Stock Exchange (ICE Futures US), at 20.71 cents/lb. In London, the low was 1.43%, at US$ 580.00 a ton. After closing last week close to 21 cents/lb amid concerns about the Indian harvest due to adverse weather, the sugar market adjusts at the start of a new week. In addition to a natural profit-taking movement, there is pressure associated with the devaluation of oil. The oil oscillations impact the decision of ...
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