Sugar oscillates strongly, but ends this 6th session close to stability in NY, US

Published 2023년 3월 10일

Tridge summary

Sugar futures saw a slight decrease in London and stabilized in New York as the market's focus shifted to Brazilian harvest data and financial information. The most traded raw sugar month on the New York Stock Exchange marginally increased by 0.05% to 21.16 cents/lb. In contrast, the first contract in London fell by 0.41% to US$ 589.90 a tonne. The market's fluctuations were influenced by the end of the La Niña weather pattern and the growing likelihood of an El Nino in the latter half of the year. Meanwhile, the Brazilian domestic sugar market experienced downward trends despite the off-season, with the CEPEA/ESALQ Indicator for sugar in São Paulo traded at R$ 131.47 per 50 kg bag, showing a slight increase of 0.44%.

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

Original content

After wide swings, sugar futures closed this Friday (10) close to stability in New York, but with a slight drop in London. The market followed the data on the Brazilian harvest and financial data during the last few days. The most traded month of raw sugar on the New York Stock Exchange rose 0.05% to 21.16 cents/lb, with a high of 21.22 cents/lb and a low of 20.66 cents/lb. In London, the first contract fell 0.41% on the day, at US$ 589.90 a tonne. In the week, the main salary in the North American terminal rose 1.39%. After registering highs the day before, the sugar market on foreign exchanges began this Friday's session in the red. During the day, however, losses were being reduced and New York even recorded a slight appreciation. This week's negotiations permeated information about the production origins. On the one hand, operators follow the positive information about the 2023/24 crop in the Center-South of the country. However, there is attention to Asian origins. Datagro, ...

Source: NoticiasAgricolas