2023-11-14 13:41:31
In the last session, the market followed concerns about the harvest in Asian origins
Sugar futures contracts were trading with a slight drop this Tuesday morning (14) on the New York and London stock exchanges. The sweetener market feels pressure from a profit-taking movement after the previous day’s gains with attention to supply.
At around 8:35 am (Brasília time), the most traded maturity date for raw sugar on the New York Stock Exchange had fallen 0.18%, quoted at 27.67 cents/lb. In London, the main maturity had a devaluation of 0.30%, at US$ 743.50 per ton.
In the previous session, the sugar market registered an increase on the exchanges with attention to supply, mainly due to the impact on the Asian harvest. Now, there is a correction in profit-taking in the sweetener market.
“International fundamentals point to lower production volumes in both India and Thailand, which will limit exports from both countries, expanding their support base comfortably above US$/cents 27.00”, informs the analyst at Safras & Mercado, Maurício Muruci.
See how the market closed in the last session:
» Sugar futures market ends session this Monday with gains in NY
» Click and see the complete sugar-energy quotes
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Source:
Agricultural News
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