Raw sugar futures in the US have continued to rise to over ten-year highs accelerating after breaking through the high from late February spurred on by a number of factors. Futures extending their rally to over $24.5 per pound in April, reaching the highest since March 2012. Disappointing harvests in some of the world’s largest producers India, China and Thailand from bad weather has hit sugar production in all three countries. At the same time China’s economy has begun to … Continue reading “Ethanol Demand Pushes US Raw Sugar Futures to 10-Year High as Weather Hits Harvests”
US Raw Sugar Futures Hit 6-Year High on Biofuel Demand Expectations
Raw sugar futures in the US broke through the high from late February spurred on by a number factors. With sugars use in biofuel, in particular in Brazil for ethanol the surprise moves by OPEC+ to cut production triggered prices across the energy fuel structure. WTI oil futures rose 6.3% on the move, Brent futures rose 6.4% and gasoline futures rose 2.98%. Raw sugar prices surged over $22.4 per pound Monday, hitting six year highs. Sugar was already higher, up … Continue reading “US Raw Sugar Futures Hit 6-Year High on Biofuel Demand Expectations”