Sugar Daily Fundamental Analysis

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The price of sugar futures on ICE Futures exchange on Thursday morning ended weak triggered a decrease in Chinese sugar imports. China, the world's largest sugar consumer, imported 140,000 tons of sugar in November, customs data show on Wednesday, down 48 percent from last year, due to tight supply and higher prices.

Sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed the most active dipped by -0.05 cents or equal to 0.27 percent at 18.20 cents per pound. Tonight will be released US Q3 GDP data indicated increased. If realized, it will strengthen the US dollar.

Many analysts estimated that the price movements of raw sugar futures in New York at the next trade will weaken the US dollar strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 17.70 cents and 17.20 cents

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The price of sugar futures on ICE Futures exchange in late New York trading the weekend early Saturday (24/12) ended slightly lower on the trading market ahead of the holidays. Daily chart shows a consolidation pattern. Sales came mostly from speculators who need to liquidate a large part of the long positions they hold.

 

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed a decline. The most active price of sugar futures have closed down slightly by 0.06 percent at 18.15 cents per pound.

 

In the weekly price of sugar is still negative -0.38 percent, largely by weakening demand, particularly the decline in Chinese imports.

 

Analysts think that the price movements of raw sugar futures in New York at the next trade will strengthen limited by the potential of weakening US dollar. Prices of raw sugar futures has the potential to test the resistance level at 18.65 cents =and 19.15 cents.

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Sugar futures prices closed higher on the ICE Futures exchange trading late New York Wednesday morning (28/12). The commodity price surge has strengthened supported higher crude oil prices.

Crude oil prices surged in late trading on Wednesday morning (28/12), continuing the year-end rally supported the implementation of the agreements expectations of production cuts the first time in 15 years between producers OPEC and non-OPEC with effect from January 2017.

Traders anticipate that higher oil prices will encourage producers prefer to convert sugarcane into ethanol than sugar cane, so the decline of sugar production and increase the price of sugar.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 strengthened. The price of sugar futures the most active closed up 0.39 cents, or equivalent to 2.15 percent at 18.54 cents per pound.

Raw sugar futures on ICE Futures US in New York has the potential to test the support level at 18.00 cents and 17.50 cents. While the level of resistance to be tested if the price increase at 19.00 cents and 19.50 cents.

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The price of sugar futures on ICE Futures exchange New York end of 2016 on Saturday morning (31/12) ended up triggered drop in Indian production.

Dealers said the rise in sugar prices has been fueled in part by talk that production in India could be lower than previously expected. Drought has curbed production in key states such as Maharashtra.

At the close of trading session, Sugar futures prices for the most-active contract is a contract in March 2017 was observed to increase. The most active price of sugar futures have closed up by 0.02 cents, or equivalent to 0.10 percent at 19.51 cents per pound.

Analysts estimated that Raw Sugar price at the next trade will weaken if the US dollar strengthened realized. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.00 cents and 18.50 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York on Thursday morning ended up triggered drop in sugarcane production. Raw sugar prices hit a 1.5-month amid ongoing fears of a shortage of sugarcane in India, the second largest producer in the world.

More than two dozen factories in Maharashtra, India's main sugar producing state, has stopped crushing due to shortage of sugarcane and many more are likely to close before the end of February. On the demand side, Indonesia has said it will import 1.5 million tonnes of raw sugar during the next six months.

Tonight will release the ISM Non-Manufacturing PMI and Markit Services PMI in December that indicated declining. If realized, it will weaken the US dollar.

Analysts estimated the price movements of raw sugar futures in New York at the next trade potentially strengthened by the weakening US dollar. Prices of raw sugar futures has the potential to test the resistance level at 21.40 cents and 21.90 cents.

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The price of sugar futures on ICE Futures exchange in late New York trade on Friday morning (06/01) ended weaker triggered rising delivery distribution of sugar in Brazil. In the port of Santos Brasil is expected to distribute 20.32 million tonnes of sugar in large numbers in 2017, up 7.6%, so the release of Sugaronline, Thursday (5/12).

Weakening US dollar makes Sugar became cheaper in other currencies. At the close of trading early Sugar futures for the most active contract on March 2017 observed a decline. The price of sugar futures have closed by 0.53 percent at 20.78 cents per pound.

Analysts estimated that Raw Sugar futures on NY session for the next trading session has potential to rise by the weakening US dollar. Sugar futures has the potential to test the resistance level at 21.30 cents and 21.80 cents.

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The price of sugar futures on ICE Futures US in New York ended declined stressed by the strengthening US dollar. A stronger dollar makes commodities denominated sugar becomes more expensive in other currencies, so the demand is decreasing.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was decreased. The price of sugar futures closed the most active decline about 0.03 per cent, equivalent to 0.14 percent at 20.75 cents per pound.

Analysts estimated that Raw Sugar's price for the next trading's session will weaken with limited potential for the strengthening US dollar. Price of raw sugar futures on ICE Futures US in New York has potential to test support level at 20.25 cents and 19.75 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York Wednesday morning (11/01) ended up triggered by the strengthening of the Brazilian Real. The increase in sugar prices driven by the strengthening of the Brazilian currency, the Real. Real Brazil tend to be firmer and traded at 3.19 against the US dollar.

The strengthening of the Brazilian Real is the bullish sentiment for commodity prices denominated in US dollar, making exports less attractive in the local currency. Brazil is the world's top producers of sugar.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to increase. The price of sugar futures the most active closed up 0.06 cents, or equivalent to 0.29 percent at 20.48 cents per pound.

Analysts estimated that Raw Sugar futures price on NY session may weakened since US Dollar against this one potentially stronger than expected. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 20.00 cents and 19.50 cents.

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The price of sugar futures on ICE Futures US in New York ended up triggered by decline in global production. Estimated production of India has gone down because of the rainy weather was bad and now there are reports that the factories were to close early because there is no cane to be processed. News wire reported that the Thai plant may continue to circulate smaller.

Brazilian producers did not sell and the wait-and-see attitude of their production potential. Stay dry in the northeast of Brazil and turned dry again at the center of the southern region. Less than expected demand and the potential to increase production, mostly from Brazil, in the next few months is a major negative factor.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to increase. The price of sugar futures the most active closed up by around 0.08 cents, or equivalent to 0.39 percent at 20.56 cents per pound.

Analysts estimated that for the next trading session Sugar futures price may potentially strengthening with the support of weakening US Dollar. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the resistance level at 21.00 cents and 21.50 cents.

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Sugar futures prices closed higher on the ICE Futures exchange trading late New York Friday morning (13/01). Commodity prices have strengthened supported by weakening US dollar and rising crude oil prices.

 

The US dollar continue weakening after the press conference US President-elect Donald Trump, who did not discuss key policies such as fiscal stimulus. A weakening US dollar makes dollar-based commodities sugar became cheaper in other currencies. The increase in US crude oil prices also supported the price of sugar.

 

At the close of trading early this morning the price of sugar futures for the most active contract is a contract on March 2017 was observed to rise. The price of sugar futures the most active closed up 0.20 cents, or equivalent to 0.97 percent at 20.76 cents per pound.

 

Tonight will be released the data retail sales in December and January US Michigan Consumer Sentiment, which both indicated increased. If realized the potential to strengthen the US dollar.

 

Analysts estimated that Sugar futures price for subsequent trading sessionwith potentially weak against US Dollar as this currency is strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test support level at 20.30 cents and 19.80 cents.

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ICE sugar futures prices closed down in late trade. The weakening commodity prices triggered by weaker crude oil prices. Traders anticipate that lower oil prices will encourage producers prefer to convert sugarcane into sugar cane than ethanol, so that the production of sugar increased and further depress sugar prices.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed the most active dipped by 1.16 percent at 20.52 cents per pound.

Markets will watch the planned speech on Tuesday by British Prime Minister Theresa May whether the United Kingdom will take a soft or hard approach to Brexit. Fears Brexit will weaken pounds, and otherwise strengthen the US dollar.

Analysts estimated that Raw sugar's price movement for the next session will weaken limited by the strengthening US dollar. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level between 20.00 cents and 19.50 cents.

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Sugar futures prices closed higher on the ICE Futures exchange trading late New York Friday morning (27/01). Commodity prices have strengthened supported higher crude oil prices.

Traders anticipate that higher oil prices will encourage producers prefer to convert sugarcane into ethanol than sugar cane, so the decline of sugar production and increase the price of sugar. But the increase is restrained even further by strong US dollar, which depresses the sugar futures market.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 to strengthen monitored. The most active price of sugar futures are closed up by 0.02 cents, or equivalent to 0.10 percent at 20.36 cents per pound.

Analysts estimated that sugar futures for the next trade is projected to rise by US dollar weakness. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the resistance level at 20.90 cents and 21.40 cents.

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Sugar futures prices plunged in late trading early on Friday (10/02). The weakening commodity prices depressed by the US dollar strengthening and weakening demand.

The US dollar jumped more than 1 percent against the yen and rose broadly on Thursday after comments from President Donald Trump that he would release tax reform plan in the next few weeks. A weakening US dollar makes dollar-based commodities sugar became cheaper in other currencies.

Weakening demand also weighed on prices of sugar. Dealers said small delivery is expected to occur in March, which ended on Monday, as demand from Myanmar has tightened supplies in Asia.

Prices for March may also have been weighed down by talk that the sugar from Central America can be sent. Sugar supply seen as less attractive than Brazil because of high transportation costs to send to potential major import markets.

Analysts estimated that the price of sugar futures to trade the potential to strengthen further limited by the weaker US dollar. Prices of raw sugar futures has the potential to test the resistance level at 21.15 cents and 21.65 cents.

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ICE sugar futures prices plunged in late trading on early Saturday (11/02). The weakening commodity prices depressed the strengthening US dollar. The dollar rose against the Japanese yen after the meeting Trump-Abe went smoothly and the planned tax reform will be launched by US President Donald Trump. 

 

A weakening US dollar makes dollar-based commodities sugar became cheaper in other currencies. At the close of trading early this morning the price of sugar futures for the most active contract have closed down 0.23 cents, or equivalent to 1.11 percent at 20.42 cents per pound.

 

Analysts estimated that the price of sugar futures for trading the potential to strengthen further limited by the weaker US dollar. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the resistance level at 20.90 cents and 21.40 cents

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Sugar futures prices on ICE plunged in late trading on early Wednesday (14/02). The commodity prices have weakened depressed strengthening US dollar and weaker crude oil prices.

US dollar rose to a near three-week high against a basket of currencies on Monday, lifted by hopes of US tax cuts to stoke corporate profits and investment, as well as forecast the Federal Reserve will raise interest rates more quickly.

Traders anticipate that lower oil prices would trigger a cane producers prefer to convert sugar cane into sugar than ethanol, so that the production of sugar increased and further depress sugar prices.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to degenerate. The most active price of sugar futures were closed down by 0.42 cent, or the equivalent of 2.06 percent at 20.00 cents per pound.

Analysts estimated that the price of sugar futures to trade potentially weakening further limited by the strengthening of US dollar. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.50 cents and 19.00 cents.

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The price of sugar futures on ICE Futures ended jumped after triggered by disruptions to production in Brazil and India. Brazil needs to receive more rain through at least March and then have dry weather to facilitate the harvest from April, according to Cofco's de Andrade and Paulo Roberto de Souza, chief executive officer of Copersucar SA.

While India also needs to rebound significantly, the scale of the recovery is still uncertain, said Gareth Forber, head of research at LMC International sugar. Water shortages last summer in the state of Maharashtra planting sugar cane to be harvested 18 months later limited. Production in the two countries should return to normal next season, the Indian Sugar Manufacturers' Association said last month.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to increase. The price of sugar futures have closed down by 0.47 cents, or equivalent to 2.35 percent at 20.47 cents per pound.

Analysts estimated that Raw sugar futures for the next session on ICE New York could potentially weaken by US Dollar strengthening position. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 20.00 cents and 19.50 cents.

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The price of sugar futures on ICE Futures US in New York, Thursday morning (16/02) closed with bullish sentiment which triggered by an increase in demand of Myanmar and India. The dealer said sugar has been driven by the power of white sugar, white recorded a premium has increased significantly in the last few days.

Factors that support included talks on the request of Myanmar, seen as the entrance to the Chinese, and the prospect of Indian imports in the upcoming season. Tonight will be released housing data indicated mixed. Jobless claims data also indicated increased. If realized, it will weaken the US dollar.

Analysts predicted that the price movement of raw sugar futures in New York for the next trade is projected to rise by US dollar weakness. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the resistance level at 21.00 cents and 21.50 cents.

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The price of sugar futures ended down exposed to currency weakening Brazilian Real. Brazilian Real currency weakened in late trading yesterday, the pair of USDBRL rose by around 1.02 percent at 3.0874.

The weakening of the Brazilian Real continues to lead forward sales by the Brazilian sugar mills to take advantage of better real-time pricing. At the close of trading early this morning the price of sugar futures for the most active contract observed decline. The price of sugar futures descended by 0.59 percent at 20.36 cents per pound.

Analysts predicted that the price movement of raw sugar futures in New York at the next trade will weaken limited by the strengthening US dollar which triggered by bargain hunting. Prices of raw sugar futures on ICE Futures US has the potential to test the support level at 19.90 cents.

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The price of sugar futures on ICE Futures US in New York this early Thursday ended down when triggered by a decrease in global production deficit. International Sugar Organization on Tuesday lowered its forecast global sugar deficit for the 2016-17 season to 5.869 million tons, from the previous estimate of 6.19 million tonnes.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in May 2017 observed decline. The price of sugar futures seems dipped by -0.29 percent at 20.68 cents per pound.

Analysts estimated Raw Sugar Futures on ICE for next session will weaken limited by the strengthening US dollar which triggered bargain hunting. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 20.20 cents and 19.70 cents.

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The price of sugar futures on weekend early Saturday (25/02) ended weak triggered by a positive production supply. The price of sugar futures dropped after triggered by a positive supply situation. Shipments of sugar from Mexico, Guatemala, and El Salvador has been in line with expectations.

One exception is Brazil where volume was slightly lower, but not enough to spark buying interest. At the close of trading early this morning the price of sugar futures for the most active contract observed decline. Sugar futures have closed sharply lower by 1.59 percent at 19.81 cents per pound.

Analysts estimated that the price movements of raw sugar futures in New York at the next trade will weaken limited by the strengthening US dollar which triggered by bargain hunting. Prices of raw sugar futures on ICE Futures US has the potential to test support level at 19.30 cents and 18.80 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early Tuesday morning (28/02) ended sharply lower production triggered by the projected increase in Brazil.

 

Commonwealth Bank analyst expressed a consensus states that southern Brazil will produce additional 35 million tonnes of sugar in summer 2017. It will be enough to keep the stock market well.

 

Tropical Research Services (TRS) said in a report on Monday the weather in South-Central Brazil has been profitable since December and the increase in area harvested. TRS raised its forecast for the 2017/18 sugar production in the Center-South of Brazil to 35.7 million tonnes from a previous projection of 35.5 million

 

Analysts estimated that the price movements of raw sugar futures in New York at the next trade have limited strengthening movement by the weakening US dollar. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the resistance level at 19.65 cents and 20.15 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York Friday morning (03/03) ended up triggered an increase in the deficit of production in India. In late February, the Indian sugar deficit increased to 18.54% from about 15% in mid-February, the agency said Indian Sugar Mills Association (IMSA) in a release.

 

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in May 2017 was observed to increase. The most active price of sugar futures have closed jumped by 0.92 percent at 19.66 cents per pound.

 

Analysts estimated that the price movements of raw sugar futures in New York at the next trade will weaken the US dollar strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.20 cents and 18.70 cents.

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Sugar futures prices plunged in late trading on ICE Futures exchange New York Tuesday morning (07/03). Commodity prices have weakened depressed by strengthening US dollar and weaker crude oil prices.

 

Traders anticipate that lower oil prices would trigger a cane producers prefer to convert sugar cane into sugar than ethanol, so that the production of sugar increased and further depress sugar prices.

 

At the close of trading early this morning the price of sugar futures for the most active contract is a contract on May 2017 which falling down. The most active price of sugar futures have closed down 0.37 cents, or equivalent to 1.90 percent at 19.15 cents per pound.

 

Tonight will be released in January US trade data, with an indication of the widening US trade deficit. If realized can hit US dollars. So the price of sugar futures to trade the potential to strengthen further limited if the dollar weakness occurs. Prices will test the resistance level at 19.65 cents and 20.15 cents.

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Sugar futures on ICE Futures New York commodities bourse Friday (26/05) ended flat, down slightly triggered tug of sentiment. July's contract price slumped sharply in the previous two sessions, tumbling about 4 percent. The drop in sugar prices prompted a bargain hunting action by investors.

 

But efforts to buy sugar are stuck with bearish sentiment such as crude oil price drops and political turmoil at major Brazilian sugar producers. 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.

 

Tonight will be released estimation of Durable Goods Orders April indicated decreased. Analysts expect that crude sugar futures price potentially testing the Resistance level at 16.20 cent and then next towards 16.70 cents.

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Sugar futures price is about to closed bearish on ICE Futures New York yesterday morning (22/06). Commodity prices are weakened by the weakening of crude oil prices.

 

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 is an October 2017 contract is observed down. The most active sugar futures prices closed down by 0.56 cents, equivalent to 4.05 percent at 13.26 cents per pound.

 

Analysts expect that the price of sugar futures for further trade session could potentially decline if the crude oil price weakening continues. But if the weakening US dollar continues to support the price. The price of sugar futures could potentially test the Support level at 12.80 cents and 12.30 cents.