USA: Sugar futures close lower in London and New York
Sugar
United States
Published Mar 7, 2023
Tridge summary
Sugar futures contracts closed mixed in New York this Monday (6), after touching the maximum on Friday. According to analysts interviewed by Reuters, the market felt pressure from the weakness of other agricultural markets. "Traders said the market was weighed down in part by weakness in other agricultural markets and the possibility that funds could start to reduce a large net long position," he said. The first two screens of ICE Futures in New York closed in the red, contracted, respectively, at 20.87 and 20.23 cents per pound, expiring in May and July/23, down 5 and 2 points. The October/23 display closed stable at 19.92 cts/lb. The other contracts closed at a high of 3 to 11 points. Also according to analysts interviewed by Reuters, the market continued to be supported by the reduced prospects for production in India, with some mills already starting to stop grinding sugarcane in the state of Maharashtra, the largest producer in the world.
Original content
Sugar futures contracts closed mixed in New York this Monday (6), after touching the maximum on Friday. According to analysts interviewed by Reuters, the market felt pressure from the weakness of other agricultural markets. "Traders said the market was weighed down in part by weakness in other agricultural markets and the possibility that funds could start to reduce a large net long position," he said. The first two screens of ICE Futures in New York closed in the red, contracted, respectively, at 20.87 and 20.23 cents per pound, expiring in May and July/23, down 5 and 2 points. The October/23 display closed stable at 19.92 cts/lb. The other contracts closed at a high of 3 to 11 points. Still according to analysts interviewed by Reuters, the market continued to be sustained by the reduced prospects for production in India, with some mills already starting to stop grinding sugarcane in the state of Maharashtra, the country's largest producer. London On ICE Futures Europe, Monday ...
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