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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Sugar futures achieve second consecutive day of gains

Oct 25, 2012 01:17 PM

Prospects of growing demand pushed up sugar futures Thursday, marking the sweetener's second consecutive trading session of gains, Bloomberg reports.

Brazil, the globe's largest producer of the soft commodity, is likely to see intensifying competition for sugar cane raw material in 2013. The sweetener has dropped 15 percent since the beginning of this year. The government of the South American nation next year is poised to increase the required blend of ethanol into gasoline to 25 percent from 20 percent, where it presently stands.

"As a result, approximately 20 million tons of sugar cane would be needed extra for the production of ethanol," analyst Hans van Cleef with ABN Amro Bank NV said in a quarterly report, according to Bloomberg, also noting prices of the sweetener are likely to see their downside minimized by the production of ethanol.

At 1:44 p.m. on Thursday, sugar futures fell 0.66 percent, a 0.0013 cent loss to 0.1955 cents per pound.

Reuters reports sugar dealers in Brazil said large amounts of sugar mills remain open to finalize the end of the season's crop.

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