Tuesday Sugar rafineries futures rose on speculative traders, yields are expected to decrease in the central-south and north-east regions of Brazil due to heavy rains and drought. The current contract for raw sugar on the New York Mercantile Exchange ICE, adding 13 points against the previous session, closed at 20,40 cents / lb (449 USD per ton).
As predicted Jenkins Sugar Group Inc , Prices for raw sugar in the next few years may fall below 18 cents per pound.
"We are entering the second year in a row the world's surplus, and many funds have left their positions in the market " – Frank Jenkins, President Wilton, CT, – He said at a presentation in New York.
The production will exceed the demand for 6,5 million. tonnes in the current marketing year, What's on 25% more than the previous February assessment the International Sugar Organization.
Contract for raw sugar on FORTS closed at a value 14,2 rub. (+2,683%). Trading volume amounted to 388 contracts, or 5,526 million rubles. The number of open positions on the session has reached 7,756 thousand. contracts.
As of 16 yeast TG. the price of white sugar on the London Stock Exchange (August contract) was 557,10 Doll. Per tonne, change to the previous day of trading amounted to - 1,30 Doll. Per tonne upwards.
On Tuesday, the price of grain in the United States increased at the end of the trading session. Wheat futures rose to 2% yesterday. Increase has occurred against the backdrop of concerns about the impact of dry weather on yields in different regions of the world. The market also worried about the winter wheat crop in the United States health, since the last government report on the crop assessment was less optimistic. The growth of corn, wheat quotations also supported the market. Corn rose to 2,4% at the end of yesterday's trading day.
Cocoa and coffee markets on Tuesday closed at the same uptrend. July futures for cocoa and coffee rose 0,3% and 0,25% respectively.
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