SB=F - Sugar #11 Jul 23
| Pre. Settlement | N/A |
| Settlement Date | 2023-06-30 |
| Open | 24.95 |
| Bid | 25.41 |
| Last Price | 25.37 |
| Day's Range | 24.71 - 25.64 |
| Volume | |
| Ask | 25.42 |
- Reuters
CORRECTED-Russia and Cuba ink deals to revitalize communist-run island's ailing economy
Russian officials and business leaders have signed multiple deals with Cuban counterparts at a forum in Havana this week, agreeing to work together to boost sugar and rum output, assure wheat and crude oil supply to the communist-run island, and overhaul crumbling tourist facilities. The agreements include a contract for Russia's Prodintorg to supply wheat to Cuba's state-owned Alimport, aimed at "guaranteeing the stability" of supply to the Cuban population, according to a document from the Cuban-Russian Business Committee viewed by Reuters. Another deal will create a Cuba-based marketplace for Russian goods, including food and home goods, called Rusmarket, which will also help spur development of more direct and fluid shipping routes between the two countries, the document said.
BloombergUSDA Goes After Chocolate Milk in Schools in Fight Against Sugar
(Bloomberg) -- Chocolate milk may become a thing of the past in elementary and middle schools across the US.Most Read from BloombergA 32-Year-Old Nears Billionaire Status by Using AI to Broker Japan MergersGoogle Billionaire Sergey Brin Gifts $600 Million in Surging SharesChicago’s Empty Office Towers Threaten Its Future as a Major Financial HubTurkey Latest: Erdogan Says Unclear If Vote Will Go to RunoffSingapore Airlines Posts Highest Profit in 76-Year HistoryIn an attempt to limit sugar consu
The Wall Street JournalHow El Niño Could Scramble Commodity Markets
El Niño hasn’t even landed yet. The hard-to-predict climate pattern, when powerful, can usher in intense drought or rainfall, upend output from the world’s breadbasket regions, and whipsaw the prices of commodities. Brazilian sugar producers, American grain farmers and international traders are bracing for the phenomenon.
Barrons.comSugar Is Surging in Price. Your Favorite Cookies Will Soon Cost More.
The price of sugar has surged this year after bad weather led to disappointing harvests from some of the world’s biggest producers. That means higher retail prices for sugary goods.
- Reuters
REFILE-CORRECTED-World food prices rise for first time in a year- FAO
The United Nations food agency's world price index rose in April for the first time in a year, but is still some 20% down on a record high hit in March 2022 following Russia's invasion of Ukraine. The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 127.2 points last month against 126.5 for March, the agency said on Friday. The Rome-based agency said the April rise reflected higher prices for sugar, meat and rice, which offset declines in the cereals, dairy and vegetable oil price indices.
ReutersWorld food prices rise for first time in a year- FAO
The United Nations food agency's world price index rose in April for the first time in a year, but is still some 20% down on a record high hit in March 2022 following Russia's invasion of Ukraine. The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 127.2 points last month against 126.5 for March, the agency said on Friday. The Rome-based agency said the April rise reflected higher prices for sugar, meat and rice, which offset declines in the cereals, dairy and vegetable oil price indices.
- Reuters
CORRECTED-World food prices rise for first time in a year- FAO
The United Nations food agency's world price index rose in April for the first time is a year, but is still some 20% down on a record high hit in March 2022 following Russia's invasion of Ukraine. The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 127.2 points last month against 126.5 for March, the agency said on Friday. The Rome-based agency said the April rise reflected higher prices for sugar, meat and rice, which offset declines in the cereals, dairy and vegetable oil price indices.
ETF TrendsSugar Prices in Europe Rose Over 60% in 1 Year
Sugar prices have risen by an average of over 60% in the European Union, highlighting the overall increase in food prices over the past year as reported by Eurostat. In terms of highest increases on a country-specific basis, Czechia was at the top of the heap with a 98% jump in sugar prices. Estonia and [...]
ReutersInside a tub of Ben & Jerry's, Unilever's costs surge
Despite some signs inflationary pressures are easing, Unilever warned on Thursday of big increases in the prices of dairy, soybean oil, cocoa and sugar in the first half of this year - potentially bad news for fans of its Ben & Jerry's Half Baked ice cream. Unilever, which is passing on about three-quarters of its expenses to consumers, said its profit margins had fallen more than two percentage points as it battles cost inflation that started with the COVID pandemic and worsened due to Russia's invasion of Ukraine and extreme weather. "It's principally around the costs of labour, logistics and energy and what our suppliers see in their own production bases," finance chief Graeme Pitkethly said.
ReutersIndia's sugar output could fall to 32.8 million tonnes- trade body
India is likely to produce 32.8 million tonnes of sugar in the 2022-2023 marketing year, down 3.5% from the previous forecast, as sugar cane yields in major producing states fell due to erratic weather conditions, a leading trade body said on Wednesday. Lower sugar output could limit exports from the world's second-biggest exporter, lifting global prices and allowing rivals Brazil and Thailand to boost their shipments. The trade body in January was expecting India to produce 34 million tonnes in the current season ending on Sept. 30, after harvesting a record 35.8 million tonnes in the previous season.
ETF TrendsAs Sugar Pushes to New Highs, Get Exposure With CANE
Sugar prices are pushing to new highs, opening up pathways to get sugar exposure in order to stave off the effects of inflation. According to the Wall Street Journal, sugar prices have not been this high in over 10 years. In particular, many factors are swaying in favor of bullish sugar investors as market experts [...]
TheStreet.comThis Commodities ETF Is Showing Sweet Upside Potential
Invesco DB Commodity Index Tracking Fund is getting a boost from higher precious metals, sugar and a weaker U.S. dollar. Let's check the charts and indicators of the ETF. In the weekly candlestick chart of the DBC, below, I can see an improving picture.
Business InsiderSugar prices spike to a decade high on rising worries of a global shortage
Sugar prices in New York rose nearly 2% Wednesday and have surged 19% so far this year.
ZacksTap the Rally in Sweetener Prices With Sugar ETFs
Sugar has been on a tear this year on lower-than-expected production in some key regions that raised worries about tight global supplies.
ReutersIndian sugar prices climb as production drops amid record demand
Sugar prices in India have climbed more than 6% in two weeks and are likely to rise further as production is set to fall and demand from bulk consumers to strengthen during the peak summer season, industry officials told Reuters. Higher local prices will improve the margins of sugar makers such as Balrampur Chini, Shree Renuka Sugars, Dalmia Bharat Sugar and Dwarikesh Sugar, helping them make cane payments on time to farmers, dealers said. But the price rise could add fuel to elevated food inflation and discourage New Delhi from allowing additional sugar exports, supporting global prices which are already trading near multi-year highs.
- Reuters
China's exports to North Korea more than double in Jan-Feb on agricultural shipments
China's overall exports to North Korea more than doubled in the first two months of 2023 from a year earlier, with major exports including granulated sugar, soybean oil and rice, Chinese customs data showed on Monday. Chinese outbound shipments to the isolated country surged 161.5% year-on-year to $300.5 million in January-February, data released by China's General Administration of Customs showed. The top export items in terms of value were granulated sugar, wool for wig production, soybean oil, rice, and rubber tyres.
The Wall Street JournalAre Artificial Sweeteners Bad for You? New Worries About Link to Strokes, Heart Attacks
A recent study adds to mounting questions about the health effects of popular sugar substitutes found in everything from low-carb ice cream to baked goods.
ReutersIndia could export more sugar in 2022/23 - major sugar company
India could export up to one million tonnes more of sugar in the 2022/23 season if production is at the upper end of current estimates, an official from one of the country's largest sugar and ethanol manufacturers said on Wednesday. Avantika Saraogi of Kolkata-based Balrampur Chini Mills said on the sidelines of the Dubai Sugar Conference that current estimates for India's sugar production ranged from 33.5 million to 34.5 million tonnes. India has exported only 6.1 million tonnes of sugar so far in 2022/23, down from a record 11 million tonnes in the prior season.
ReutersFitch Solutions sees raw sugar prices averaging 2% higher this year
Fitch Solutions said on Thursday it sees raw sugar prices averaging 2% higher this year as production will likely disappoint in various regions including Europe and India, while demand in China should recover. The research arm of credit ratings agency Fitch Group said it sees raw sugar rising from an average 18.6 cents per lb last year to 19 cents this year, historically elevated levels that bode ill for policymakers' attempts to cool food inflation. On the supply side, Fitch cited uncertainty over European production following a pesticide ban, adverse weather conditions and the continued diversion of sugarcane towards ethanol production in India, the world's second-largest sugar producer.
Yahoo Finance VideoHere's the #1 lesson I learned as a commodities floor trader: Michele Schneider
Yahoo Finance’s Jared Blikre is joined by MarketGauge.com Director of Trading Education, Michele "Mish" Schneider, and StockCharts.com Chief Market Strategist, David Keller, CMT, as Michele discusses her experience as a commodities floor trader in New York.
ReutersIndia's overall sugar output up 5.39% so far this season
Indian mills have produced 25.4 million tonnes of sugar since the current season began on Oct. 1, up 5.39% year on year, the Indian Sugar Mills Association said on Monday. After the diversion of sugar for ethanol, mills produced 22.8 million tonnes of the sweetener between Oct. 1 and Feb. 15 compared with 22.2 million tonnes during the year-ago period, it said. The association last month cut its 2022/23 output estimates by 7% from the previous forecast, as sugar cane yields in major producing states fell due to weather conditions.
ReutersSugar producer Tereos names Boucas as CEO
Tereos, the world's second-largest sugar producer, said on Friday it had appointed Jorge Boucas as its chief executive officer effective from April. Its former chief executive stepped down in September last year, the third CEO to leave the company in less than two years. The French cooperative group has seen repeated senior management changes and a deep review in its strategy since late 2020 when a long-running internal feud led to the ousting of its top management.
Simply Wall St.Rogers Sugar Reports First Quarter 2023 Earnings
Rogers Sugar ( TSE:RSI ) First Quarter 2023 Results Key Financial Results Revenue: CA$261.4m (up 13% from 1Q 2022). Net...
- Reuters
Mexican genetically modified corn spat could affect U.S. sugar trade - report
Mexico's proposed controversial ban on genetically modified (GM) corn imports could impact other areas of trade with the United States, including the large sugar and corn syrup exchange, an independent report released on Thursday said. Mexico's government of leftist Andres Manuel Lopez Obrador approved a ban of all GM corn from 2025, a regulation that would block most U.S. corn exports to Mexico.
- Reuters
Louis Dreyfus starts trading in Brazil's free energy market
Agricultural commodity merchant Louis Dreyfus Company (LDC) on Thursday unveiled that late last year it began operating as a trader in the Brazilian free energy market, according to a statement. The company said it intends to expand its activities in the sugar and ethanol market using energy from sugarcane biomass cogenerated by mills. The trader intends to fully service "the more than 40 groups of mills with which we already originate sugar and ethanol, and thus meet the demand from LDC and its clients, increasing the share of renewable energy in the composition of a more competitive and sustainable energy matrix," said Mario Barbosa, head of sugar for North Latin America.