Login ID:
Password:
Partner Login
Contact Us : 7066511911

ICE raw sugar futures edge lower amid weaker crude oil prices

21 Jan 2022 8:09 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai, 21 January (Commoditiescontrol): ICE raw sugar futures edged lower on Thursday amid weaker crude oil prices.

March raw sugar ​​closed lower by 0.14 cent, or 0.7 percent, at 18.93 cents per lb. March white sugar fell $2.80, or 0.5 percent, at $507.30 a tonne.

"There seems no particular reason for the weakness apart from profit-taking in a thin market after possibly getting a little over-done on the up-side," said a European broker.

Dealers said sugar is set to remain firm near-term and will only see resistance above 19.30 cents.

They noted also that several analysts are marking down production of sugar in China, a key consumer, due to lower planted beet area and cold weather.

Support and resistance for Sugar# 11 lies at 18.77 and 19.19 cents, respectively.



(By Commoditiescontrol Bureau: +91-22-40015505)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Sugar prices unchanged in Mumbai
ICE sugar settles lower on Brazilian supply prospect
Sugar prices nearly flat in Mumbai
Delhi: Sugar prices fall Rs 100 per/quintal in 2 days
ICE raw sugar hits 6-week low on recession fears
more
Top 5 News
LME Stocks: Copper stock rises by 11825 MT
Kandla Vessel Line Up - 27 June 2022
Week Ahead: Spice market may witness mixed trend
ZCE COTTON AND YARN AFTERNOON CLOSE 27 JUNE 2022
Chana trades unchanged at Delhi on limited mill buying
Top 5 Special Reports
Week Ahead: White Pea prices to remain range bound on l...
Week Ahead: Moong prices unlikely to see fall from curr...
Week Ahead: Kabuli Chickpea to trade on higher side ami...
Week Ahead: Chana may trade firm on increase in seasona...
Week Ahead: Masoor imports may increase as landed cost ...
Copyright © CC Commodity Info Services LLP. All rights reserved.