Login ID:
Password:
Partner Login
Contact Us : 7066511911

ICE Sugar Marginally Down On Weak Brazilian Real

15 Nov 2019 9:24 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) – Benchmark sugar prices on the Intercontinental Exchange failed to sustain higher levels and gave up all the gains by close on Thursday mainly due to weak Brazilian Real.

The ICE Sugar March 2020 contract ended down 4 points 12.81 cents/lb. Volumes were down at 64,149 contracts compared with 63,068 contracts a day ago. The London March white sugar contract ended down by $1.2/MT to $340.5/MT. Volumes were down at 6107 compared with 12,593 a day ago.

Earlier in the day ICE raw sugar#11 most active March contract touched high of 12.92cents/lb on reports of production downgrades in India and United States but the market gave up all the gains and closed due to weak Brazilian Real .

The market is consolidating at current high prices sooner or later fundamentals should catch up and we may see a break out in prices in upward direction

Support and resistance for the March contract are seen at 12.47 cents and 12.95 cents respectively.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Malaysia's Dec 1-15 Palm Oil Exports Down 18.62% MoM: I...
Balance Stock Of Oilseed Under PSS With NAFED As On 12 ...
Govt Revises Up Base Import Price Of Edible Oils
India Nov Edible oil Import down by 0.50% - SEA
BMD CPO Settles Sharply Lower On Demand Concerns
more
Top 5 News
Malaysia's Dec 1-15 Palm Oil Exports Down 18.62% MoM: I...
Argentina's New Govt Raises Export Duties On Soy, Grain...
Tur/Masoor Move Higher In Delhi
Cotton Prices Down In Lower Rajasthan On Sluggish Deman...
Burma Urad Remains Weak In Mumbai
Top 5 Special Reports
Weekly: ICE Cotton Ends up; Awaits US-China Trade Deal...
Weekly: Pulses Slips On Listless Demand In Dals, Liquid...
USD/INR (Dec. 19) Bearish Short-term Trend: Retestin...
USD/INR (Dec. 19) Retesting Major Support Near 71.00...
USD/INR (Dec. 19) Retesting Major Support Near 71.00...
Copyright © CC Commodity Info Services LLP. All rights reserved.