Futures Market News
Sugar prices climb to highest level in a month
Mar 16, 2012 10:49 AM
According to the news source, the harvest in Brazil, the world's largest producer of sugar, is set to be delayed, and the Committee of European Sugar Users, has asked the EU to boost supplies of the crop after shortages of the commodity temporarily disrupted food manufacturing.
The harvest in Brazil's main region for production, the Center South, will likely start 10 days later than last year, Antonio de Padua Rodrigues, technical director at industry group Unica, noted on March 2.
"Raw sugar prices rose sharply overnight on news that the EU may need an additional 1 million tons of imports on near-term shortages," Paul Deane, an economist at Australia and New Zealand Banking Group Ltd., wrote in a report e-mailed today, as reported by Bloomberg.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Receive Your FREE Grain Futures eBook
Download “Inside the Grain & Oilseed Markets” today!
Whether you are new to the agricultural commodities industry or a seasoned trader, it is important to have a solid understanding of the markets to assist you and your trading strategies. From its unique specifications to its key fundamentals, learn how this important sector came to be.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.