Today No.11 market opened at 19.52, one point below yesterday’s settlement. From the first trading minutes to 10pm, market went up to trade at 19.81. From that time to 1h30pm, market traded sideways in the 19.73- 19.83 range. Near 2pm, when market was at its highest trading zone at 19.94 as daily high, sellers acted strongly bringing the prices down to 19.56 at 3 pm. The last three trading hours were marked by a lateralized movement. The session closed at 19.61 and settlement price was 19.63, a + 0.10 increase from previous settlement (+0.51% change). Volume was 55k lots and H3K3 spread closed untouched at 1.07.
Today, the White Sugar market started with a small overnight gain with Mar’23 at 536 (+2.3). Following the upward movement, the market kept rising slowly and stopped with the Mar’23 between 540 – 543 range during all the morning. On the early afternoon, the prices started a new climbing with the Mar’23 hitting the maximum of the day valued at 545.30 around 2h45pm, immediately followed by a downward movement that led the prices to fall below the 538 levels. After that drop, the liquidity reduced and slowed down the movements until the last 15 minutes when the traders back to negotiate leading a very volatile moment, when even during an upward movement the market was able to hit the daily low with the Mar’23 valued at 534.20. Mar’23 closed valued at 539.2, an increase of 5.5USD/Mt (+1.03%) against last day close, with the White premium at 106.43 , and the Mar/May’23 spread at 12.8
