USA: Sugar retreats in New York and London stock exchanges this morning of the 6th with profit taking
Sugar
United States
United Kingdom
Published Feb 24, 2023
Tridge summary
Sugar futures contracts had a slight to moderate fall on the New York and London stock exchanges this Friday morning (24). The market feels pressure from a profit-taking movement after hitting 21 cents/lb in the first contract. At around 8:49 am (Brasília time), raw sugar was down 0.64% in the main contract on the New York Stock Exchange (ICE Futures US), at 20.21 cents/lb. In London, the drop was 0.73%, at US$ 570.50 a tonne.
Original content
After rising in the previous session, including the first contract month in New York reaching 21 cents/lb, the sugar market feels natural pressure to take profits this morning. However, attention is still paid to the origins. Expectations are positive with the 2023/24 crop in the Center-South of Brazil, which will begin in April. However, there are concerns about some Asian origins. In the financial sector, the market remains attentive to movements in oil and exchange rates. See how the ...
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