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13/11/2024

Sugar prices open this Wednesday (13th) with mixed variations on the NY Stock Exchange

At the start of Wednesday (13), sugar futures prices opened slightly higher on the New York Stock Exchange, but by the morning some of the closest maturities had fallen slightly, but were still very close to stability.  In London, since the beginning of the day, the variations have been negative, around 0.5%.
In New York, the March/25 contract registered a slight rise of 0.02 cents, trading at 21.37 cents/lbp. May/25 was down 0.02 cents at 19.91 cents/lbp. July/25 showed a slight drop of 0.03 cents, trading at 19.14 cents/lbp, while October/25 fell 0.02 cents, quoted at 19.00 cents/lbp.
On the London Stock Exchange, the December/24 contract fell by US$ 4.30, trading at US$ 538.70 per ton. The March/25 contract was down US$ 2.20 at US$ 554.70 per ton. May/25 showed a slight drop of US$ 1.20, trading at US$ 547.90 per ton, while August/25 fell US$ 2.10, quoted at US$ 531.70 per ton.
According to information from Barchart, in recent days sugar has been pressured by the rise in the dollar on the international market and especially against the Brazilian real, a movement that gained strength after Donald Trump's victory in the United States. In addition, Unica's report released on Tuesday (12) showed sugar production in the Center-South with a smaller reduction than expected by the market.

Source: Notícias Agrícolas