Several things have fallen into place for sugar, and prices have responded by increasing for the fifth day in a row.
The fall in the value of the dollar has been one of those elements helping sugar, as it has all the commodities recently, as the U.S. dollar again has dropped against the euro and other major currencies.
Today prices for raw sugar increased to 15.99 cents a pound in New York, a $0.15 gain, or 0.9 percent.
White-sugar futures in London increased $2.50 for August delivery, to $526.50 on the Liffe exchange, or 0.5 percent.
Over the last couple of seasons, sugar inventory has fallen 27 million tons, as supply continued to exceed demand.
Last year there were some sugar price gains made from a drought in India and more rain than normal in Brazil.
Showing posts with label Sugar Futures. Show all posts
Showing posts with label Sugar Futures. Show all posts
Monday, June 14, 2010
Friday, April 2, 2010
Sugar Futures Remain Under Pressure
Sugar futures going down in price
Even though sugar futures had a brief rally on Thursday, expectations are there will continue to be downward pressure on sugar prices, as nothing in the fundamentals have changed.
Sugar futures recently closed at nine-month lows, while closing at 16.70 cents a pound Thursday, an increase of 11 cents. It fell as low as 15.46 cents a pound earlier before rebounding.
Since February 1, sugar future prices have had no support after reaching a 29-year high of 30.40 cents on that day. In 2010 sugar future prices have plunged by 38 percent in the first three months.
Falling sugar future prices come from the huge sugar crop in Brazil and India, the two leading producers in the world.
Demand seems to be falling at the time of huge supply of sugar. It's as simple as that, and it won't change for some time.
Even though sugar futures had a brief rally on Thursday, expectations are there will continue to be downward pressure on sugar prices, as nothing in the fundamentals have changed.
Sugar futures recently closed at nine-month lows, while closing at 16.70 cents a pound Thursday, an increase of 11 cents. It fell as low as 15.46 cents a pound earlier before rebounding.
Since February 1, sugar future prices have had no support after reaching a 29-year high of 30.40 cents on that day. In 2010 sugar future prices have plunged by 38 percent in the first three months.
Falling sugar future prices come from the huge sugar crop in Brazil and India, the two leading producers in the world.
Demand seems to be falling at the time of huge supply of sugar. It's as simple as that, and it won't change for some time.
Wednesday, March 10, 2010
Commodities: Sugar Hits 7-month Low
Sugar Futures Down
After a number of defaults, sugar futures in the U.S. dropped to 7-month lows, as sugar mills in India backed out of deals to import 100,000 tons of sugar from the U.S.
This is the eight loss for sugar in the last ten sessions, making one wonder how low it'll go before it rebounds.
Today the sugar futures sold for below 20 cents a pound, falling to 18.82 a pound at its worst; the lowest sugar futures price since the early part of August 2009.
Sugar Futures Down
After a number of defaults, sugar futures in the U.S. dropped to 7-month lows, as sugar mills in India backed out of deals to import 100,000 tons of sugar from the U.S.
This is the eight loss for sugar in the last ten sessions, making one wonder how low it'll go before it rebounds.
Today the sugar futures sold for below 20 cents a pound, falling to 18.82 a pound at its worst; the lowest sugar futures price since the early part of August 2009.
Sugar Futures Down
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