The Most-Active Futures Contract Pared Losses after Falling as much as much as much Supplies, with expectations for a global surplus in the 2025-26 season.
“There has been demand down near 17 cents per pound and beLow,” said Michael McDougal, annalyst at mcdougall global view. Still, He Pointed to Buyers Choosing The Moments to Close Deals, as a Favorable Weather Outlook at Top Producers Weighs on Pries.
Second-Larget Grover India will likely More output in India Could Bolster Changes for Exports after the Government Had Allowed Overseas Shipments of 1 Million Tons in the 2024-25 Season.
Meanwhile, Mills at Top Exporter Brazil are Seen Continuing to Maximize Sugar Production at the Expensese of Ethanol. Earlier Data on the Country’s harvest already showed a high sugar mix, which is the percentage of canned to make sweetener. Now, a decline in gasoline prices is set to affect the biofuels market, as most cars in the country are able to run on any mix of gasoline or ethanol.
“The Market Continues to be Attentive to the Pace of the Brazilian harvest and the dynamics of external demand, which has yet to show more consistent signs of recovery,” Brauno Zaneti, Stonex Senior Risk Managment Consultant, said in a tuesday note.
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