White Sugar #5 Aug '21 (SWQ21)
White Sugar #5 Futures Market News and Commentary
October NY world sugar #11 (SBV21) on Friday closed down -0.39 (-2.13%), and Oct London white sugar #5 (SWV21) closed down -5.70 (-1.26%).
Sugar prices on Friday settled sharply lower, with London sugar posting a 2-week low. An easing of frost risks in Brazil sparked massive long liquidation in sugar futures on Friday. Patchy frost reached about 80% of Minas Gerais Thursday night and did only limited damage to Brazil's sugar crops, according to World Weather.
NY sugar prices on Thursday rallied to a 5-month nearest-futures high on fears that another frost could further damage Brazil's sugar cane crops. There is still the risk of additional frost damage next week in Brazil, according to World Weather.
Sugar prices saw strength after Unica last Friday said the frost impact on Brazil's sugar-cane crop would be "big." Companies were still assessing the damage from the first frost in late June before last week's frost again hit Brazil's sugar crops. According to... Read more
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- Coffee Prices Settle Sharply Lower at 1-Week Lows as Brazil Frost Concerns Recede
Sep arabica coffee (KCU21 ) on Friday closed down -16.95 (-8.63%), and Sep ICE Robusta coffee (RMU21 ) closed down -99 (-5.25%). Coffee prices on Friday...
- Sugar Prices Settle Sharply Lower as Reduced Frost Risks in Brazil Sparks Long Liquidation in Sugar
October NY world sugar #11 (SBV21) on Friday closed down -0.39 (-2.13%), and Oct London white sugar #5 (SWV21) closed down -5.70 (-1.26%). Sugar prices...
- Cocoa Closes Moderately Lower as Fund Short-Covering Subsides on Dollar Strength
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- Cotton Red at Midday
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- When Weather and Weather Derivatives Diverge
A look at the softs complex Friday morning shows us markets aren't looking at weather in Brazil to close out the month.