Features International Sugar Journal

Monthly Snapshot December [Full subscriber]

March raw sugar futures fell to 19.83 cents per lb on November 17th after hitting a seven-month peak of 20.44 cents on November 16th. As the analyst, Tobin Grey at the Commonwealth Bank of Australia pointed out, “the strong sense that the sugar market had gained too much, too quickly, finally manifested.” The March white sugar settled at US$532/tonne. Global sugar balance (million tonnes) The drop in price on the 17th was informed in good part by falling oil prices. Ethanol demand shrank as international oil prices fell 4% that day. According to financial research firm Bachard, ethanol prices have…

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