Sugar market extends gains this Tuesday morning on the US and UK stock exchanges

Published 2023년 3월 28일

Tridge summary

Sugar futures prices saw a moderate increase on the New York and London stock exchanges on Tuesday morning. The market's gains were extended due to continued oil support, with the most traded month of raw sugar on the New York Stock Exchange rising 0.67% to 21.07 cents/lb, and the first contract in London appreciating by 0.81% to US$ 608.40 a tonne. The market's attention was also drawn to Asia, with concerns about crops as India, a major sugar-producing country, is expected to produce less sweetener this season due to mill closures.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Sugar futures prices were moderately high on the New York and London stock exchanges this Tuesday morning (28). The market extends gains and continues with oil support, in addition to attention to Asian origins, mainly India. At 8:45 am (Brasília time), the most traded month of raw sugar on the New York Stock Exchange rose 0.67%, to 21.07 cents/lb. While in London, the first contract appreciated by 0.81% on the day, at US$ 608.40 a tonne. The sugar market extended the previous session's gains on Tuesday morning as traders paid attention to continued oil gains after Iraq was forced to halt exports from its semi-autonomous region of Kurdistan. In addition, there are great concerns about Asian crops. Maharashtra, India's main sugar producing state, will produce less sweetener this season than previously estimated. "Mills are closing at an accelerated pace. Almost all mills will ...

Source: NoticiasAgricolas