Sugar futures hit 5-1/2 month high

On November 16, 2017, in sugar futures trading news report, by Infinity Trading
sugar futures brokers

sugar futures brokers

November 14th, 2017

Sugar futures raw on ICE edged up to equal the prior session’s 5-1/2 month high on Tuesday as funds scaled back short positions, although the rise was slowed by producer selling.

* March raw sugar was up 0.03 cents, or 0.2 percent, at 15.16 cents per lb by 1210 GMT after equalling Monday’s 5-1/2 month peak for the front month of 15.18 cents.

* Dealers said the recent run-up in prices has been driven partly by a rise in energy prices which is leading to a switch in Brazil to using more cane to produce ethanol at the expense of sugar.

* Dealers said the switch would curb sugar production in Brazil and reduce the size of a widely anticipated global surplus in the 2017/18 season.

* “We are not talking about the disappearance of the surplus but we are talking about a reduction (in its size),” one London dealer said.

* Dealers said the market was, however, struggling to overcome resistance around the March contract’s peak in September of 15.20 cents and a break above that level could trigger a fresh wave of fund short covering.

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sugar futures brokers

sugar futures brokers

June 2nd, 2016

Rainy weather in Brazil that is delaying sugar loading at ports encouraged another leg up for sugar prices Thursday.

Raw sugar futures for July delivery rose 3.9% to end at 18.08 cents a pound on the ICE Futures U.S. exchange, its highest close since June 27, 2014.

Raw sugar futures have risen 18.6% since the start of the year, with hedge funds and other money managers piling on bullish bets on the idea that sugar demand will outstrip supply this year and help the world unwind the glut of the sweetener.

But some firms have warned that they think those bets are overdone. Net bullish speculators in sugar reached a record high recently and are only slightly down from that high water mark as of last Tuesday, according to CFTC data.

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October 25th, 2012

Sugar futures climbed for a second day in New York on speculation lower prices will start to attract demand just as competition for raw material sugar cane in top grower Brazil may increase next year. Arabica coffee rose.

Sugar has fallen 15 percent this year as supplies are set to outpace demand for a third season in 2012-13. Competition for raw material sugar cane in Brazil could soon increase as the government may raise next year the mandatory blend of ethanol into gasoline back to 25 percent from 20 percent now, ABN Amro Bank NV said in a quarterly report e-mailed today. Sugar and the biofuel are both made from the same raw material in Brazil.

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July 30th, 2012

Sugar Futures – Buyers of sugar from Brazil, the world’s largest producer, are paying a bigger premium for their sweetener after futures prices fell and supplies for immediate shipment remain limited, according to Swiss Sugar Brokers.

Raw sugar for loading in August at the port of Santos, Brazil’s biggest, was offered for sale at a premium of 0.4 cent a pound to the price of the October contract on ICE Futures U.S. in New York, the broker said in a report e-mailed today. That compares with a premium of 0.05 cent to 0.1 cent a pound on July 22, data from the broker showed. At the port of Paranagua, the second biggest, sweetener was at a premium of 0.25 cent a pound to the exchange price, according to the report.

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July 6th, 2012

Sugar Futures – Sugar traders are the most bullish in six months after prices moved to within five percentage points of exiting a year-long bear market as rain delayed cane processing in Brazil, the biggest producer.

Nine of 11 analysts surveyed by Bloomberg said they expect raw sugar to keep rallying next week and two were bearish, the highest proportion of bulls since Jan. 6. Futures reached an 11- week high of 22.69 cents a pound in New York yesterday. Hedge funds increased wagers on rising prices by 29 percent to the highest since April in the week ended June 26, U.S. Commodity Futures Trading Commission data show.

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June 28th, 2012

Sugar Futures – The worst start to the monsoon season in India in three years is threatening crops from rice to sugar cane, stoking concern that the nation may limit exports to preserve supplies. Soybean futures in India climbed to the highest since 2003 and corn rose to a five-month high.

Rainfall from June to September, which represents 70 percent of annual amount, may be below normal with the main cane-growing regions getting less rain than required, said Michael Ferrari, a commodity director and senior scientist at Falls Church, Virginia-based Computer Sciences Corp. (CSC) Rain is 23 percent below average since the season started on June 1, according to the India Meteorological Department.

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June 26th, 2012

Cocoa futures climbed the most in three weeks on speculation that wet weather will increase the risk of crop disease in Ivory Coast, the world’s top producer. Sugar and coffee also advanced.

Most areas of Ivory Coast will get at least 75 millimeters (3 inches) of rain through July 3, according to the U.S. National Oceanic and Atmospheric Administration. Some regions in the north will get as much as 150 millimeters, data on the NOAA website showed today. Heavy rains raised the prospect of poor bean quality and the fungal disease known as black pod, said Drew Geraghty, a broker at ICAP Futures LLC in Jersey City, New Jersey.

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June 19th, 2012

Orange juice futures settled on Tuesday at a six-week high on speculative buying inspired in part by a weak dollar and firm commodity markets, analysts said.
Key July frozen concentrated orange juice jumped 7.20 cents, or 6.4 percent, to close at $1.1975 per lb after trading from $1.1245 to $1.205.

It was the loftiest close for the spot juice contract since the middle of May, Thomson Reuters data showed.

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