Sugar loses more than 2% at the opening of this Tuesday in NY and extends recent losses

Sugar futures experienced a downturn in the international market, with the March/25 contract reaching a four-month low and falling below 19 cents/lbp. This decline is attributed to a positive forecast for the next sugarcane harvest in south-central Brazil and an increase in Thailand's sugar production, leading to potential restrictions on liquid sugar shipments to China. As a result, the March/25 contract in New York dropped 2.28%, with other contracts also showing significant decreases. The trend continued on the London Stock Exchange, with all contracts experiencing losses.

Sugar futures extended the losses of the last session in the international market on Tuesday morning (14), shortly after the March/25 contract in New York reached its lowest values in four months and lost the support of 19 cents/lbp, which it had held since the first half of September 2024. According to Reuters, “traders said the bearish factors included a better outlook for the next sugarcane harvest in south-central Brazil, following recent rains in the region”. In addition, the news agency also highlights that “They also noted that there could be more sugar available in Thailand, following an increase in production and restrictions on shipments of liquid sugar (syrup) to China”. In New York, around 10 am (Brasília time), the March/25 contract was quoted at 18.47 cents/lbp, registering a drop of 0.43 cents (-2.28%) compared to the previous close. May/25 was trading at 17.57 cents/lbp, a reduction of 0.35 cents (-1.95%). July/25 fell 0.34 cents (-1.93%), quoted at 17.26 ...