Login ID:
Password:
Partner Login
Contact Us : 7066511911

ICE Raw Sugar Erases Early Rally to Close Lower On Weak Real

24 Nov 2020 8:44 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai Commodities Control - Sugar prices on Monday gave up an early advance and closed lower. Sugar prices on Monday initially opened higher on continued dry conditions in Brazil.


Sugar gave up its gains and turned lower on weakness in the Brazilian real, which fell 0.91% to a 1-week low against the dollar on Monday. The weaker real encourages export selling by Brazil's sugar producers.


March raw sugar settled down 0.06 cents, or 0.5%, at 15.15 cents per lb, having hit 15.66 cents last week for its highest since mid-February. March white sugar fell $1.80, or 0.6%, to $411.50 a tonne.

However, sugar remains underpinned by damage to Central America cane fields and a low Indian exports as the market awaits news from Delhi on export subsidies for this season.

Support and resistance lies at 14.83 cents and 15.65 cents per lb, respectively.

Commodities Control Bureau




  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  

Top 5 News
Bearish Trend Continues In Guar Gum, Seed Despite Lower...
Spot Mustard Seed Prices Extend Losses As Bearish Trend...
A.P-Telangana Cotton Steady for Second Straight Session...
Sugar Dips In Delhi As Millers Reduce Prices, But Botto...
Spot Cotton Rates Weak-to-Steady Across Major Markets T...
Top 5 Special Reports
Weekly: NY Cotton Posts Third Straight Weekly Gain ; Fi...
Weekly: NY Sugar Rallies Forward on Tight Global Suppli...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
USD/INR (Jan 21) Weak Price Trend / Next Support at ...
USD/INR (Jan 21) Weak Price Trend / Next Support at ...
Copyright © CC Commodity Info Services LLP. All rights reserved.