UK: White sugar closes higher on expectations for crops in Brazil and India

Published 2023년 1월 17일

Tridge summary

White sugar futures have seen a rise in value at the ICE Europe market in London due to positive outlooks on crop conditions in Brazil's Center-South region and India. There is anticipation that Brazilian plants may shift from ethanol to sugar production in the upcoming harvest, contributing to the price increase. However, negotiations for raw sugar are expected to resume on Tuesday in New York. Crystal sugar has experienced a slight increase in value, while hydrated ethanol continues to decline slightly in Brazil.

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

Original content

White sugar futures closed higher on Monday (16) at ICE Europe in London. The March/23 contract, traded at US$ 553.10, fell by US$ 5.80. The May/23 contract, traded at US$534.30, also fell by US$6.10. The other lots closed with a high valuation of 3.50 to 3.10 dollars. The session was driven by optimistic expectations regarding crops in the Center-South region of Brazil and India. There is also the possibility that the plants will boost the production of sugar instead of ethanol in Brazil in the next harvest. New York ICE Futures in New York was closed Monday due to Martin Luther King Jr. Day, a US national holiday. Raw sugar negotiations should return to normal on Tuesday (17). Crystal Sugar According to USP's Cepea/Esalq Indicator, crystal sugar closed with an appreciation of 0.53% compared to ...

Source: Agrolink