Sugar prices have changed slightly

October raw sugar SBc1 finished the session steady at 23.40 cents per pound after falling to a low of 23.34. Support emerged around 23 cents, while a global deficit is expected in the upcoming season. Asian production may face challenges due to weather conditions. Brazilian crop is keeping prices from rising.

23 August 2023

October raw sugar SBc1 ended the session solid at 23.40 cents a pound after dropping to a two-week low of 23.34, according to the Nasdaq.

Traders said there was solid support around 23 cents while fundamentals were also seen as bullish as global deficits are widely expected in the upcoming 2023/24 season.
Some traders view the long-term trend as positive with the prospect of possible problems for Asian production due to El Niño climate conditions, but a large crop in Brazil is holding prices back for now.

October LSUc1 white sugar prices fell $0.40, or 0.1%, to $681.40 per metric ton.

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Source: Sugar.Ru

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Sugar prices have changed slightly

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