Sugar futures closed worth all contracts on international exchanges on Thursday (31) with traders concerned about the effects of rain in Brazil, the world’s largest producer and exporter of the commodity. According to them, rains could reduce “the crushing of sugarcane in the current season, but increase the prospects for next year’s harvest,” Reuters reported.
However, according to the international news agency, Rabobank analysts expect the sugarcane crop in central-south Brazil for 2025/26 to reach 580 million tons, “which may be smaller than what mills will crush in the current season.”
In New York, on the ICE Futures Europe exchange, the March 25 contract reached a two-week high of 22.82 cents per pound, but ended the session at 22.74 cents/pound, an increase of 52 points, or 2.3%, compared to the previous session. day. On May 25, the price of cloth rose 48 points, contracting at 21.05 ct/lb. Other contracts rose between 23 and 41 points.
London
At ICE Futures Europe, in London, the December 24 contract was trading yesterday at US$576.50 per tonne, up US$6.60, or 1.2%, from the previous day. The March 25 screen rose $8.30 and fell at $585.20 per ton. The rest of the contracts rose between $4.50 and $9.40.
Local market
In the local market, Thursday saw a rise for the third consecutive day in crystalline sugar prices measured by USP’s Cepea/Esalq index. The mills sold a 50-kilo bag at R$163.79, compared to R$162.28 on Wednesday, an increase of 0.93% in comparison. Throughout the month of October, the index rose by 11.94%.
Aqueous ethanol
The last day of October saw a slight negative change in hydrous ethanol prices measured by the daily Paulinia index. Yesterday, biofuels were traded by factories at R$2,706.00 per cubic metre, a decline of 50 cents in real terms, or 0.02%, compared to the previous day’s prices. In October, the index rose by 5.07%. Rogerio Mian-UDOP News Agency
