Today, No.11 opened with a slight upside compared to yesterday’s settlement. Since the market’s opening, an upward movement has been evident during the first few hours of trading, gradually increasing with H24 nearing the 27.00 level, reaching 26.90 around 2:00 pm. Subsequently, the market experienced a minor correction, dropping back to the 26.60 levels, but it regained strength around 4:00 pm, surpassing the 27.00 level in the last half-hour of trading and reaching its high at 27.18. This led to the Mar’24 closing at 27.03, reflecting an increase of 0.68 USD/Mt (+2.58%) compared to the previous day’s closing price. The White premium stood at 131.39, and the Mar’24/May ’24 spread was at 1.29.
Today, the Dec’23 contract opened at a price of 715.4, representing an increase of 4.2 USD/Mt compared to the closing figure of 711.2 recorded yesterday. Following the movement in the Ny#11, the White sugar market started the day with an upward trend established at the opening, with prices slowly increasing during the first few hours of trading. Around 14:00, Dec’23 prices reached approximately 723.00 but dipped slightly in the next hour, falling below the 720 level. However, the White sugar market mirrored the movement seen in Ny#11 and rebounded, reaching its daily high at 729.80 within the 30 minutes before the settlement. This upward movement led to a settlement price of 727.3, which was a gain of +16.1 from yesterday’s settlement and a +2.26% change from the previous session. Dec ’23 registered a volume of 5,000 lots, and the Z23/H24 spread closed at +4.9.
