World: Sugar turns on the NY Stock Exchange, but still falls in London

Sugar futures prices ended this Monday (28) with a fall on the New York Stock Exchange, but a decline in London. Pressure lasted most of the day after losses seen in oil. However, prices turned with information about the next OPEC+ meeting. The most traded month of raw sugar on the New York Stock Exchange rose 0.26% on the day, quoted at 19.38 cents/lb, with a high of 19.45 cents/lb and a low of 19.05 cents/lb. At the London terminal, the first contract was down 0.21%, at US$ 528.60 a tonne. After retreating more than 3% in part of the morning following concerns about demand, as China – the world's largest oil importer – has registered demonstrations against the Covid-19 zero policy, prices have now started to rise to the oil. The support follows Eurasia Group's report that the Organization of Petroleum Exporting Countries and Allies (OPEC+) is "seriously studying" a production cut next week. Sugar, of course, turned in the stock markets following this data. Oil prices directly ...