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Ethanol

Dollar recovery and drop in oil makes sugar prices reach minimum in the month

09/04/2020 | 13h08

The recovery of the dollar and the fall in international oil prices put pressure on and made sugar futures contracts to drop significantly on international exchanges, the biggest devaluation in a month, according to news agencies.

 

"A strong dollar makes sugar quoted in the US currency more expensive for holders of other currencies, while the decline in oil tends to favor the production of sweetener in Brazil's cane mills, to the detriment of ethanol," brought Reuters in your daily commodity analysis.

 

In New York, at Ice, the October / 20 maturity decreased 37 points, sold at 12.07 cents per pound. The screen for March / 21 fell 38 points, traded at 12.74 cts / lb. The other screens fell between 18 and 36 points.

 

London followed the US stock exchange and saw all the lots of white sugar close down on Thursday. Contracts maturing in October / 20 decreased by US $ 5.50 compared to the previous day, traded at US $ 353.60 per ton. The canvas for December / 20 was sold at US $ 357.50 a ton, down 5.80 dollars. The remaining lots fell between $ 4.70 and $ 7.60.

 

Also according to Reuters, "traders said there appears to be limited physical demand, so the discount for October futures from the March contract. They added that further losses are likely if the dollar continues to improve."

 

Domestic market 

In the domestic market, crystal sugar had its 13th consecutive increase this Thursday (3) by the Cepea / Esalq indicator, from USP. The 50 kg bag was sold at R $ 85.46, an increase of 0.08% compared to the previous day.

 

Daily ethanol 

Hydrated ethanol rose again after a day of low. This Thursday the biofuel was sold at R $ 1,873.50 per cubic meter, up 0.19% compared to the previous day, according to the Esalq / BM & F Bovespa indicator, Posto Pauinia.



Font: T&B Petroleum/Press Office UDOP
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