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Sugar prices close with new low and reduction reaches 6.3% in NY this week

Published Jan 15, 2025

Tridge summary

Sugar futures have seen a significant decline on the New York and London stock exchanges, with the March/25 contract in New York dropping 6.3% this week. Despite concerns about potential fires and droughts, the 2024/25 harvest outlook remains optimistic with recent rainfall. However, a surge in Brazilian production and challenges in India may limit price recovery. In Brazil, the physical market is experiencing a decline in sugar prices, while Central American and Mexican production remains behind schedule. Hedgepoint predicts that the first quarter could shift from balanced to a deficit, but weak demand and the anticipation of the next Brazilian harvest could mitigate price increases, leading to a strong surplus in the future.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Wednesday (15), sugar futures closed with drops of up to 1.75% on the New York Stock Exchange and up to 1.96% in London. As a result, the March/25 NY contract has already dropped 6.3% in just the three sessions this week and is approaching 18 cents/lbp. In New York, March/25 fell 0.31 cents (-1.69%), closing at 18.01 cents/lbp. May/25 fell 0.32 cents (-1.84%), closing the day at 17.07 cents/lbp. July/25 depreciated 0.30 cents (-1.75%), being traded at 16.83 cents/lbp, while October/25 registered a loss of 0.27 cents (-1.56%), ending at 16 .99 cents/lbp. In London, prices also closed with sharp losses. March/25 was traded at US$472.50, a drop of US$8.70 (-1.81%). May/25 fell US$ 9.50 (-1.96%), closing at US$ 475.90. August/25 fell to US$ 468.40, with a reduction of US$ 9.10 (-1.91%), and October/25 devalued US$ 9.30 (-1.95%), ending the day quoted at US$467.90. Hedgepoint highlights that the fires and droughts did not significantly impact the 2024/25 harvest, which, combined ...
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