Following yesterday’s settlement, No.11 market opened at 18.49 and in first half trading hour, small trading volumes were seen driving a downward movement towards 18.39 around 11h05 am, when market registered its daily low. Significant volume started to pick at 1pm and the buying force gained strength for the 2 next hours reaching 18.62. From 2pm onwards, market saw more volatility and remained swinging laterally between 18.52 to 18.63. In the last 15 minutes of the session, relevant buying force took place and market closed at the daily high at 18.65. Settlement price was 18.60, a +.11 change from the previous settlement (+0.59% change). Oct 22 volume was lower than previous days at 40k lots and the spread closed at +0.1.
Once again, the white sugar market opened with some overnight gains with Oct’22 at 557.30. During the morning, the market printed a small upward movement with the Oct’22 reaching 559.70 triggered by a volume spike around 9h30am. Right after, following by a volume decrease, prices went down to 555.40. In the early afternoon, a bullish move drove by the buyers making the price surpass the mark of 560 hitting 560.3 with the white premium valued near 150, around 2pm. In the next hours, the Oct’22 swung around 557.90 and 560 until 5pm, when the market dropped to 557.50. In the last hours of the market, a new hike rose the Oct’22 to 560.90, closing it at 560.1 with the white premium at 152.46, and the Oct/Dec’22 spread at 27.1
