Sugar Daily Fundamental Analysis

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Sugar futures price on ICE closed rebounding in late trading on Friday morning (23/06). The price of sugar has strengthened triggered buying action after the previous sugar price slump.

 

The bargain hunting action occurred after the previous price fell to a fresh 16-month low at 12.94 cents in early trading. The market structure was depressed in the previous session, when prices collapsed under speculative sales pressure and wider commodity weakness.

 

At the close of trading early this morning the price of sugar futures for the most active contract of October 2017 contracts observed rise. The most active sugar futures prices closed up by 0.03 cents, equivalent to 0.23 percent at 13.09 cents per pound.

 

Analysts expect that the price of sugar futures for subsequent trades is potentially weak if a stronger dollar occurs. Crude sugar futures prices on ICE Futures New York potentially test the Support level at 12.50 cents and 12.00 cents.

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ICE's sugar futures prices closed up at the end of the weekend trading (24/06). The price of this commodity strengthened supported by the weakening US dollar. U.S. Dollar dropped about 0.3 percent against a basket of currencies, on track for its biggest daily percentage drop since early June after the US economic data. Which is weaker than expected.

 

At the close of trading on Saturday morning, the price of sugar futures for the most active contract, the October 2017 contract, is observed to rise. The most active sugar futures prices closed up by 0.11 cents, or equivalent to 0.84 percent at 13.17 cents per pound.

 

Tonight will be released Durable Goods Orders which may be indicated an increase. If realized will strengthen the US dollar, therefore analysts predict that the price of sugar futures for subsequent trading potentially weak. Sugar futures price is potential to test the Support level at 12.70 cent and 12.20 cents.

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The price of sugar futures on ICE Futures New York at the end of trading early Tuesday (27/06) ended down triggered by the strengthening of US dollar. The US dollar ended overnight despite long-term goods orders data weakened.

 

The price of ICE sugar futures ended down by 2.43 percent, at 12.85 cents per pound. Tonight will be released S & P / Case-Shiller Home Price Data MoM APR and CB Consumer Confidence JUN, both of which are indicated to decline. If realized will push the US dollar down.

 

Analysts expect that the Sugar price will on ICE Futures New York futures will likely strengthen further if the US dollar tries to weaken. Crude sugar futures prices on ICE Futures New York potentially test the resistance level at 13.40 cents and 13.90 cents.

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Sugar futures prices closed up at the end of trading on the ICE Futures New York exchange early Wednesday morning (28/06). The price of this commodity has strengthened by the jump of crude oil prices.

 

At the close of trading early this morning the price of sugar futures for the most active contract of October 2017 monitored to be strengthened. The most active sugar futures prices closed by 0.04 cents, equivalent to 0.31 percent at 12.89 cents per pound.

 

Tonight will be released Pending Home Sales May US data indicated to increase. If realized will strengthen the US dollar and analysts estimates that the price of sugar futures for future trading is potentially weak, it may test the Support level at 12.40 cents and 11.90 cents.

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Based on ICE futures the price of sugar futures clsoed down on the late trading yesterday morning (06/07). The price of this commodity weakened by global surplus worries of the Sugar Supply which maybe affected by the surplus.

 

The contract rebounded from its lowest last weekend point at around 12.74 cents but dealers said the rally appeared to be exhausted, while hopes for a large global surplus in 2017/18 continued.

 

At the close of trading early this morning the price of sugar futures observed declined. The most active sugar futures prices closed down 1.44 percent at 13.72 cents per pound. Tonight will be released data of ADP Employment Change, Balance of Trade and US ISM Non Manufacturing indicated weakening.

 

According to analysts if it happens then it is estimated that the price of sugar futures for future trading potentially strengthened if the US dollar realized weakened. Crude sugar futures prices on ICE Futures New York potentially test the resistance level at 14.20 cent positions and 14.70 cents.

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Sugar futures price closed down at the end of ICE Futures New York futures trading, commodity prices are weakened by the weakening of crude oil prices. Crude oil prices retreat in late trading, boosted by profit-taking after yesterday's session jumped to a 2.5-year high when the UK's largest North Sea oil pipeline closed.

 

Traders anticipate that lower oil prices will trigger sugarcane producers to prefer converting sugarcane to sugar than ethanol, resulting in increased sugar production and further pressing sugar prices.

 

At the close of trading early this morning the price of sugar futures for the most active contract of March 2018 contract observed to fall down. The most active sugar futures prices closed down by 0.18 cents, equivalent to 1.29 percent at 13.77 cents per pound.

 

Analysts expect that the price of sugar futures for subsequent trades could potentially decline if the strengthening of the US dollar occurs. Crude sugar futures prices on ICE Futures New York potentially test the Support level at 13.30 cents and 12.80 cents

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Sugar futures price closed down at the end of ICE Futures New York futures trading, commodity prices are weakened by the weakening of crude oil prices. Crude oil prices retreat in late trading, boosted by profit-taking after yesterday's session jumped to a 2.5-year high when the UK's largest North Sea oil pipeline closed.

 

Traders anticipate that lower oil prices will trigger sugarcane producers to prefer converting sugarcane to sugar than ethanol, resulting in increased sugar production and further pressing sugar prices.

 

At the close of trading early this morning the price of sugar futures for the most active contract of March 2018 contract observed to fall down. The most active sugar futures prices closed down by 0.18 cents, equivalent to 1.29 percent at 13.77 cents per pound.

 

Analysts expect that the price of sugar futures for subsequent trades could potentially decline if the strengthening of the US dollar occurs. Crude sugar futures prices on ICE Futures New York potentially test the Support level at 13.30 cents and 12.80 cents

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The price of ICE sugar futures closed up in late morning trading. Sugar prices have been boosted by the decline in supply of sugarcane in Brazil. Companies in Brazil's main sugarcane producing areas are likely to suspend crop operations with nearly 9 million tons of combined destructive capacity, due to low sugarcane supplies and factories struggling under financial difficulties.

 

At the close of trading this morning the price of sugar futures for the most active contracts that contract in March 2018 observed rise. The most active sugar futures prices closed up by around 0.20 cents, equivalent to 1.37 percent at 14.77 cents per pound.

 

As previously estimated that the price of sugar futures for subsequent trading is potentially weak according to analysts. Crude sugar futures prices on ICE Futures New York potentially tested the Support level at 14.30 cents and 13.80 cents.