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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April 30th, 2012

Sugar Futures – The price of raw sugar traded in New York may fall below 19 cents a pound “very soon,” prompting processors in top producer Brazil to make ethanol rather than the sweetener, Marex Spectron Group said.

Sugar futures have fallen 8.4 percent on ICE Futures U.S. in New York this year, as supplies outpace demand by 6 million metric tons, up from a previous forecast of 5.2 million tons, according to the International Sugar Organization in London. The price was at 21.34 cents a pound by 6:28 a.m. Below 19 cents a pound, millers in Brazil would favor production of the biofuel, Marex Spectron said, referring to the variety used in flex fuel cars.

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April 13th, 2012

Sugar traders are bearish for a seventh consecutive week, the longest stretch since at least 2007, on prospects for the first supply glut in four years.

Sixteen of 22 analysts expect raw-sugar prices to decline next week and one was neutral, according to Bloomberg’s weekly sentiment survey that began in April 2007. Global production will exceed demand by 10 million metric tons in the 12 months ending in September, equal to about a year of U.S. consumption, according to Singapore-based Olam International Ltd., which trades and processes commodities in 65 countries.

Sugar prices that surged to a 30-year high in February last year spurred farmers to plant more cane and beet, expanding global production to a record this season. Futures traded in New York slumped 8.5 percent in the past three weeks on mounting concern about another glut next season. Thailand, the world’s second- biggest exporter, may ship the most supply ever this year, the country’s Office of the Cane & Sugar Board said on April 11.

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March 19th, 2012

Sugar futures climbed to a three- week high on speculation that output will trail forecasts in Brazil, the world’s top producer. Coffee and cocoa advanced.

Copersucar SA, Brazil’s biggest sugar-trading and producers’ cooperative, said last week that production in the Center South, the main growing region, may be 32 million metric tons in the season that starts in April, down from a forecast of as much as 34 million tons in February, after drought damaged crops.

“The market is beginning to believe there might be an ‘issue’ with the health of the Center South crop in Brazil and adjusts its trading range accordingly,” Michael McDougall, a senior vice president at Newedge Group in New York, said in a report.

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