No.11 market opened with Oct’22 at 18.28, 4 points above the previous day’s settlement. Right after the opening, the market slowly kept losing power until 1h30pm reaching 18.02, when prices restarted to recover for the next half hour, reaching 18.20. Right after, sellers began to act again, bringing prices down to the 17.90s. From 4 pm onwards, prices kept going down, reaching 17.75 (daily low) at 5h53 pm. Little recovery was seen near the market closure when No.11 prices ended the session at 17.80. The settlement price was 17.77, -0.47 from yesterday’s settlement and a -2.58% change from the previous session. Oct 22 registered 54k lots of volume, and the V22/H23 spread weakened closing flat. Today`s market move can drive the market to test the 17.20s support zone.
Today the white sugar market printed a downward motion at the opening with Oct’22 at 549.30 (-2.7). Just after the opening, Oct’22 lost more power reaching the 547 level where it remained until 12h45 pm. later in the afternoon, the market tried to recover but selling power kept strong and Oct’22 reached 541 by 4 pm. 1 hour later, a big selling volume led the market to 538 – the daily low. It was in the last 15 minutes that Oct’22 recovered a bit, closing at 541.2. The settlement price was 538.90, a decrease of 13.1 9 USD/mt (-2.37%), with the white premium at 147.1 and the Out/Dec’22 spread at 26.4.
