Sugar falls almost 2% on the USA's New York and UK's London stock exchanges this Tuesday with a focus on the Brazilian harvest

Sugar futures prices ended this Tuesday's session (14) with a significant drop on the New York and London stock exchanges. The sweetener market was impacted by expectations regarding the advancement of the 2023/24 harvest in the Center-South of Brazil. On the other hand, the financial situation was negative on the day, both in oil and in exchange rates, but had little impact on prices. The most traded maturity date for raw sugar on the New York Stock Exchange fell by 1.91%, to 27.18 cents/lb, with a maximum of 27.81 cents/lb and a minimum of 27.13 cents/lb. In London, the first contract fell 1.80%, trading at US$732.30 per ton. The sugar market has been falling since Tuesday morning on external stock exchanges. The initial pressure came with a movement to take profits, but was expanded amid positive expectations regarding the progress of the 2023/24 harvest in the Center-South. The country's main sugarcane producing region had been experiencing rain with an impact on the harvest. ...