Sugar had the sixth consecutive devaluation on the New York Stock Exchange

The liquidations of funds' short positions in the sugar futures market once again put pressure on prices this Monday (31st) on the New York Stock Exchange, according to today's analysis (1st).

On Ice Future, in March/17, the commodity was sold at 21.57 cents per pound, a significant drop of 59 points compared to the previous day. The other lots also saw a drop, ranging from 25 to 51 points.

According to the newspaper's analysis, this is the sixth consecutive devaluation of the commodity. According to the Commodity Futures Trading Commission, resource managers have already reduced their net long positions by more than 10% since the beginning of October, reduced to 57,536 contracts on the 25th. de-Sugar (Unica) production in Brazil also helped to put pressure on prices.

On the London Stock Exchange, sugar prices also fell yesterday. The December/16 maturity was sold at US$ 579.40 per ton, a drop of 10.10 dollars compared to the previous session. The remaining maturities fell between 7.50 and 11.80 dollars.

Domestic market

In the domestic market, crystal sugar, according to USP's Cepea/Esalq indices, saw a further decline. A 50-kilo bag was sold at R$ 100.88, a decrease of 0.04% compared to the previous day's prices.

Daily ethanol

Hydrated ethanol fell this Monday, according to the Esalq/BVMF indices. The cubic meter of biofuel was traded at R$ 1,829.50, down 0.52%.

 Source: UDOP – Union of Bioenergy Producers