Posted: November 23rd, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Brazil, Sugar | Tags: sugar, sugar brazil, sugar future, sugar glut, sugar india, sugar ourput, sugar price, sugar surplus | No Comments »
After a temporary jump last month due to Copersucar‘s terminal facilities fire, the raw-sugar futures fell 0.6% Friday, their lowest level since Sept. 19, to end at 17.40 cents a pound on the ICE Futures U.S. exchange as dry weather allowed Brazilian mills to process plenty of cane, adding to a global glut.
Stockpiles will increase 0.5 percent to 43.379 million metric tons in the marketing period ending in 2014 for most countries from a year earlier, the U.S. Department of Agriculture said today in its November 2013 Sugar World Markets and Trade report . That topped a May forecast by 13 percent. Thailand’s output will climb to a record 10.9 million tons, up 9 percent from a year earlier and 3.8 percent more than estimated in May.
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Posted: October 23rd, 2013 | Author: Pascal Blanc | Filed under: Brazil, Commodities, Sugar | Tags: sugar, sugar brazil, sugar price, sugar production | 1 Comment »
Brazilian sugar giant Copersucar‘s terminal facilities in the port of Santos, Brazil, were wiped out last friday, destroying some 180,000 tons of sugar in the process, around 10 percent of Brazil’s total monthly sugar exports.
As a consequence sugar price jumped 100 points in a single session on Friday to a 12-month high, amid speculation Copersucar‘s terminal could be out of action for at least the next six months.
According to Reuters, two sources in separate international sugar trading houses said yesterday that Copersucar issued force majeure notices to all third party sugar traders that had contracted capacity at its terminal, including Louis Dreyfus’ local unit BioSev and Bunge Ltd.‘s Brazilian sugar business.
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Posted: October 4th, 2013 | Author: Rod Sherkin | Filed under: Food | Tags: sugar, sugar brazil, sugar future, sugar harvest, sugar price, sugar production | No Comments »
Raw-sugar futures are trading at six-month highs as rain delayed the harvest in the world’s biggest producer Brazil and fueled worries about supplies, on news from Unica, Brazil’s sugar industry association.
Futures surged 4.2% last week after Unica trimmed its forecast for the harvest in Brazil’s main sugar-producing region by 0.4% to 587 million metric tons this season.
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Posted: April 25th, 2013 | Author: Rod Sherkin | Filed under: Food | Tags: sugar, sugar glut, sugar price, sugar production, sugar surplus | No Comments »
Sugar futures are down 10.8% this year, ending Wednesday at their lowest level since July 2010. Sugar prices are tumbling as investors brace for a rush of supply from Brazil this year.
Even as prices plumb nearly three-year lows, investors are betting that they will drop even more. Positions that profit when sugar prices fall hit an all-time high of 212,419 contracts—worth about $4.5 billion—on April 9.
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Posted: November 8th, 2012 | Author: Rod Sherkin | Filed under: Commodities, Food | Tags: sugar, sugar glut, sugar price, sugar production | No Comments »
Sugar will expand global supply already forecast by the International Sugar Organization to reach a record this season. Producers from Russia to Thailand raised output after prices averaged the most in three decades in 2011.
Futures fell 28 percent since March on prospects for a third straight annual surplus, helping to contain the surge in global food costs caused by droughts in the U.S., Europe and Australia.
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Posted: November 8th, 2012 | Author: Pascal Blanc | Filed under: Commodities | Tags: sugar, sugar glut, sugar price, sugar production | 1 Comment »
Raw-sugar futures fell 19 percent to 18.95 cents a pound this year on ICE Futures U.S. in New York. Prices, which reached 36.08 cents in February 2011, the highest since 1980, may drop to 18 cents by the year-end.
While cereals are scarce this year and see their prices drastically rising, sugar is abundant which has been dragging its price down since last summer. Sugar price fall has even accelerated this past month, especially since production in Brazil could bring a big surplus next spring.
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Posted: September 11th, 2012 | Author: Rod Sherkin | Filed under: Agricultural, Food | Tags: agriculture, food, sugar | No Comments »
Futures dropped to a two-year low in New York last week after drier weather in Brazil, the world’s biggest producer of the sweetener, accelerated harvesting, while improvement in rains last month in India, the second- largest grower, improved crop prospects. The sweetener has declined 31 percent in the past year on expectations that global supplies will top usage.
Sugar, trading near a two-year low, is set to pile up in producing countries next season as a lack of demand amid a global surplus forces growers to hold back supplies, according to Kingsman SA.
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Posted: August 10th, 2012 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Food | Tags: Corn, food, sugar, wheat | 7 Comments »
According to FAO, global food prices have bounced back by 6% in July after several months of decline. This increase is mainly due to soaring prices for cereals and sugar: over 17% for cereals and 12% for sugar. The FAO food price index has rebounded significantly in July to 213 points vs. 201 in June.
The Rome-based institution said in a statement that the increase was mainly due to a jump in prices for cereals and sugar, and more moderate increases of oils and fats. International prices of meat and dairy products remained more or less unchanged. If this trend continues, the February 2011 peak of 238 points that started in July 2010 could be rapidly reached. It could be similar since in both cases, soaring grain prices were the original trigger.
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Posted: May 29th, 2012 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Food | Tags: sugar | No Comments »
Sugar prices have dropped further this week, cancelling the increase from last week.
The main factors are the economic climate far from being the most euphoric, a stronger dollar and a very significant production surplus.
Wednesday, prices have dropped to 548.20 dollars per tonne in London and 19.36 cents per pound in New York, which corresponds to the lowest prices since August 2010.
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Posted: May 2nd, 2011 | Author: Rod Sherkin | Filed under: Commodities | Tags: commodities, Copper, cotton, Gold, silver, sugar | No Comments »
Cotton has pulled back 17% from the all-time record set in early March, and sugar is down 34% from its multidecade high in February. Lead and zinc have tumbled in recent weeks after shooting up in the second half of 2010. Copper has shed 6% this year.
The wild ride continued early today, when spot silver suffered one of its worst drops on record, falling 12% in 11 minutes at its most severe. It opened at $47.863 an ounce, rose to $48.150, then in 20 minutes fell to $42.210 before stabilizing. The selloff also hit spot gold, which fell 2.2% in just over a half-hour to $1,542.61 an ounce from $1,576.52.
The months-long rally in commodity prices has sparked fears it could ignite inflation or cripple consumer spending. But a surprising trend is now sweeping the markets for some key materials: Prices are falling.
To read more, click the link below.
via Abreast of the Market: Some Commodities Are Heading Back Down – WSJ.com.