Sugar prices open with new drop and March/25 returns to below 19 cents/lbp in NY

Published Jan 13, 2025

Tridge summary

Sugar futures have experienced a decline in both New York and London stock exchanges, with prices dropping to below 19 cents/lbp for the March/25 contract on ICE US. This decrease is linked to a rise in oil prices. As of 10 am in New York, the March/25 contract was quoted at 18.93 cents/lbp, marking a 0.29 cent decrease. Similarly, in London, the March/25 contract saw a drop of 1.65%, trading at US$ 495.20. The market's downward trend is attributed to the recovery of sugarcane fields in Brazil, despite positive price indicators from the Indian harvest.

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

Original content

Sugar futures opened lower once again on Monday morning (13) on the New York and London stock exchanges. Thus, the sweetener lost its recent gains in the face of a significant rise in oil prices. As a result, the March/25 contract on ICE US once again tested values below 19 cents/lbp. In New York, at around 10 am (Brasília time), the March/25 contract was quoted at 18.93 cents/lbp, registering a drop of 0.29 cents (-1.51%) compared to the previous close. May/25 was traded at 17.84 cents/lbp, with a drop of 0.23 cents (-1.27%). July/25 was down 0.23 cents (-1.30%), trading at 17.47 cents/lbp, while October/25 was at 17.53 cents/lbp, down 0.20 cents (-1.13%). On the London Stock Exchange, prices were also down. The March/25 contract was trading at US$ 495.20, down US$ 8.30 (-1.65%) from the last close. May/25 was down US$ 8.50 (-1.67%), trading at US$ 498.90. August/25 was down US$ 6.70 (-1.35%), trading at US$ 490.70, while October/25 was trading at US$ 486.60, down US$ 6.30 ...

Source: NoticiasAgricolas