Today No.11 market opened at 18.09, 5 points above yesterday’s settlement and right after the opening, reached the daily high at 18.18. From that point until 10am, the market traded sideways and slowly began to lose power in low volume movements until 1pm, when sellers brought the market down to 17.96. From that point onwards, a sharper market decline was seen until the market reached a daily low of 17.71. The next hour registered a lateral movement between the 17.70-17.80 range until the last trading hour when prices rallied back to the 17.90 level to close at 17.88. The settlement price was 17.90, a -.14 change from the previous settlement (-0.78 % change). Oct 22 volume was 63k lots, bigger than previous days and the spread got even stronger closing at +0.12.
Today the white sugar market opened again with a slight increase with Oct’22 at 552.1 (+2.6 USD/Mt). During the morning, the market kept the overnight movement rising in the first hour and hitting the high of the day around 10 am with the Oct’22 valued at 555.3. Right after, the market stayed very calm with a low volume and the prices near yesterday’s close levels – around 550 USD/Mt. After 2pm the market dropped constantly for the next 1h30 hitting the minimum of the day at 542 USD/mt. Two hours later, an expressive volume day hit the market and it gave some support to the prices, but only in the last hour did the market react making the Oct’22 close valued at 547.9, representing a decrease of -1.6 USD/Mt (-0.29%) against yesterday’s closure, with the White premium at 153.27, and the Oct/Dec’22 spread at 31.9
