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Sugar futures remain lower, extending sharp losses from the last session

Published Jan 15, 2025

Tridge summary

Sugar futures have seen a significant decrease, with drops of up to 1.17% in London and 0.70% in New York, adding to the over 4% loss seen weekly. This price drop is due to increased production in Brazil and Asia, with the center-south of Brazil and Thailand specifically contributing to the surge in supply. Both New York and London markets experienced significant price drops in various sugar contracts.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

New drops of up to 0.70% in New York and 1.17% in London, during the early afternoon of this Wednesday (15), increased the recent losses in sugar futures on the international market, which have already exceeded 4% in the weekly accumulated. There is a consensus among consulting firms and analysts that the global supply of the sweetener is putting pressure on prices. According to Jack Scoville, from Price Futures Group, prices are lower due to the increase in Brazilian and Asian production. “The center-south of Brazil and Thailand have improved their production potential”, says Scoville. At around 12:15 pm (Brasília time), in New York, the March/25 contract was traded at 18.21 cents/lbp, with a decline of 0.11 cents (-0.60%). May/25 was quoted at 17.29 cents/lbp, a drop of 0.10 cents (-0.58%). July/25 fell to 17.01 cents/lbp, down 0.12 cents (-0.70%), while October/25 lost 0.12 cents (-0.69%), ...
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