News

Sugar soars on US and UK stock exchanges this Friday and returns to 18 cents/lb

Sugar
United Kingdom
United States
Published Aug 20, 2022

Tridge summary

Sugar futures prices rose significantly on the New York and London exchanges this Friday (19), contributing to a still negative, but less expressive, weekly accumulated figure. The market was supported by oil in the financial sector, in addition to adjustments after consecutive falls. The market also followed some information about the origins of production.

Original content

Sugar futures prices rose significantly on the New York and London stock exchanges this Friday (19), contributing to a still negative, but less expressive, weekly accumulated index. The market was supported by oil in the financial sector, in addition to adjustments after consecutive falls. The market also followed some information about the origins of production. The most traded contract for raw sugar on the New York Stock Exchange rose 1.80%, at 18.09 cents/lb, with a high of 18.20 cents/lb and a low of 17.61 cents/lb. In London, the first contract jumped 2.08% on the day, at US$ 550.10 a ton. For the week, the main US contract closed down 2.43%. After oscillating on both sides of the table during this Friday's session, the oil market began to rise on external exchanges with technical variations, despite concerns about recession, and contributed to the advance in sugar prices. Higher oil tends to drive mills out of sugar, reducing global supply. The weather in the main origins, ...
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