With the prospect of an increase in Brazilian production, sugar prices end Wednesday with a devaluation on New York in the US and London Stock Exchange in UK
Sugar
Brazil
United Kingdom
United States
Published Mar 9, 2023
Original content
Sugar futures contracts ended this Wednesday's session (08) with slight declines on the New York and London Stock Exchanges. The May/23 raw sugar contract ended with a devaluation of 0.14%, trading at 20.88 cents/lbp. The August/23 contract fell by 0.13% and closed at R$20.31, while the October/23 contract ended at 20.06, with a gain of 0.48%. On the London Stock Exchange, the futures price of the May/23 contract for the white type ended the day with a loss of 2.20% and quoted at US$ 586.00 a ton. The August/23 maturity recorded a decrease of 2.00% and was negotiated at US$ 557.90 a ton. Also according to information from Barchart, sugar prices closed on Wednesday moderately lower with the prospect of stronger sugar production in Brazil. “Datagro projects that 2023/24 sugar production in the Center-South of Brazil will rise 13.1% y/y to 38.3 million tons. In addition, weakness in oil prices weighed on sugar after falling more than 1% today,” he said. Also according to information ...
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