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With the market paying close attention to the weather in Brazil, sugar opens this Monday with mixed variations

Published Nov 4, 2024

Tridge summary

Sugar futures prices experienced volatility on Monday, with both increases and decreases observed in the London and New York stock exchanges. The price movements were influenced by two contrasting factors related to the climate in Brazil. While recent rains in Brazil's Center-South region have interrupted sugarcane milling, improving the crop conditions and putting downward pressure on futures contracts. As a result, various futures contracts saw slight to moderate decreases in price. However, some contracts on the London Stock Exchange saw slight increases during the trading day.

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

Original content

Sugar futures prices began trading this Monday (04) with considerable volatility, with slight mixed variations during the morning on the London and New York stock exchanges. Reuters highlights two factors related to the climate in Brazil that cause different price movements. On the one hand, the rains recorded in recent days in the Center-South of Brazil interrupt the sugarcane milling, which is positive for prices, but on the other hand, the condition of crops in the country improves, which puts pressure on the sweetener's futures contracts. At around 9:50 am (Brasília time) this Monday, the March/25 contract in New York showed a slight drop of 0.12 cents, being quoted at 21.95 cents/lbp. May/25 fell 0.12 cents, trading at 20.38 cents/lbp. July/25 fell 0.09 cents, at 19.51 cents/lbp, while October/25 fell 0.08 cents, quoted at 19.28 ...

Source: NoticiasAgricolas