sugar futures brokers

sugar futures brokers

February 24th, 2016

Sugar futures are still a “buy”, even after their 9% surge of the last session, Australia & New Zealand Bank said, citing factors including the world production deficit and the cut by funds of their net long position.

Raw sugar futures on Tuesday staged their biggest gain in New York since at least 1993, on a most-active contract basis, a surge attributed to a cocktail of factors, including technical factors, and an increase by the International Sugar Organization to its forecast for the world output deficit in 2015-16.

Other explanations proffered include talk of a squeeze on European white sugar exports, a call by Imperial Sugar for up to 500,000 tonnes of extra US import quota for raw sugar, and talk of port delays to Argentine deliveries.

“Observers are offering plenty of explanations for the rise,” said Tobin Gorey at Commonwealth Bank of Australia, adding that “traders will tell, or perhaps bore, their grandchildren with tales of this day”.

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sugar futures brokers

sugar futures brokers

June 25th, 2014

Dry weather is hurting sugar-cane crops in Brazil’s Center South, the main growing region, compounding damage from a drought in the first quarter, an industry researcher said.

Yields this season will drop to 71 metric tons of cane per hectare, compared with about 79 tons last year, Julio Maria Borges, the head of Sao Paulo-based Job Economia & Planejamento, said in a telephone interview.

In the past month, areas near Ribeirao Preto, Sao Paulo, in the heart of the cane belt, received as little as 25 percent of average rainfall, according to MDA Weather Services. Western Minas Gerais and southeast Goias state, have also been “very dry,” and the pattern is expected to extend in the next six to 10 days, said Donald Keeney, a meteorologist with the Gaithersburg, Maryland-based forecaster.

“There is no good news for the crop,” Borges said. “The cane condition is very poor, and the agricultural yield, or total cane, will probably be lower in the second half of the harvest” that started April 1, he said.

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sugar options

sugar futures brokers

Sugar production in Brazil’s Center South, the largest producing region, is poised to drop 3.2 percent this year after drought ravaged cane crops.

Output may decline to 33.2 million metric tons in the season that began April 1, from 34.3 million a year earlier, according to seven estimates from traders and analysts compiled by Bloomberg. The slump will mean global sugar production trails demand by as much as 3 million tons, according to Luis Roberto Pogetti, chairman of Sao Paulo-based Copersucar SA.

Futures climbed 11 percent to 18.25 cents a pound this year in New York. The worst drought in decades during the first quarter eroded crop quality and threatens yields in Brazil, the world’s top producer and exporter. Investors are betting the rally will continue, increasing their wagers on higher prices by more than fivefold since February, U.S. government data show.

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sugar options

Sugar Futures

April 23rd, 2014

Sugar output in Brazil’s Center South, the world’s largest producing region, will decline 5.2 percent this season after crops were hurt by drought.

Mills will produce 32.5 million metric tons of the sweetener in the current 2014-15 harvest, down from 34.3 million in the previous season, Brazilian sugar industry group Unica said in a statement distributed in Sao Paulo today.

Crops in the Center South, where most of Brazil’s sugar and ethanol are produced, faced the driest and hottest summer in 70 years, according to Somar Meteorologia.

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sugar options

sugar futures

September 6th, 2013

Sugar rose to the highest in almost three weeks in New York as rising demand may mean a smaller surplus and a stronger Brazilian real reduced the incentive for exports from the world’s top producer. Coffee gained.

Sugar production will outstrip demand by 2 million metric tons in the 2013-14 season that starts in October in most countries, according to Czarnikow Group Ltd., which has clients in 83 countries. That’s down from a previous forecast of 3.9 million tons. The Brazilian real gained yesterday for a fourth session and reached the highest since Aug. 14. A stronger local currency reduces the incentive for exports priced in dollars.

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