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  

Latest Market Commentary
Precious Metals – Silver (Mar ‘21) – Inflection Point: ...
Precious Metals – Gold (COMEX) – Positive Short-term Tr...
Comex Gold Dips as Yields Rise, but Eyes Best Week in F...
ABN AMRO Lowers Gold Price Forecast For 2021, 2022
Precious Metals – Silver (Mar ‘21) – Inflection Point: ...
more
Top 5 News
India’s Rabi Season Acreage Reaches To New High At 675 ...
Chana Gains in Spot Mkts Amid Firm Futures, Sowing High...
Guar Gum Eases Down On Corona Worries, But Seed Gains O...
Spot Coriander Prices Improve in Rajasthan, Arrivals Ri...
Domestic Tur Gains in Major Mkts, Burma Variety Extend ...
Top 5 Special Reports
USD/INR (Jan ‘21) – Weak Price Trend / Next Target at 7...
USD/INR (Jan ‘21) – Weak Price Trend / Next Target at 7...
USD/INR (Jan ‘21) – Weak Price Trend / Next Target at 7...
Robust Chinese Demand to Keep Cotton Prices Firm, ZCE C...
USD/INR (Jan ‘21) – Weak Price Trend / Next Target at 7...
Copyright © CC Commodity Info Services LLP. All rights reserved.