After five days of declines, Sugar is up 10 cents today

After closing the previous trading day at $23.8, Sugar is up to $23.9 per pound, which makes for a move of 0.42%/10 cents today.

At the same time, United States Building Permits (Mar) released yesterday at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. United States API Weekly Crude Oil Stock came out at -2.67 million, while a consensus of analysts was expecting -2.46 million. Housing Starts in United States fell short of market expectations (0.4%) with a reading of -0.8%, continuing the decline from the previous figure of 7.3%.

This rally in ICE Sugar's price coincides with other Softs as Cocoa gained 2% and is now trading at $2,977. Having closed the previous session at $199.05, Coffee is up 1.21% today to currently trade at around $201.45.

Also worthy of note, as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -1 million, following on from the preceding figure of 597,000. New data is set to be published today at 14:30 UTC.

Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (Apr) is expected tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) will be released tomorrow at 14:00 UTC.

The commodity has been trending positively for about a month. Having set a significant high of $23.9 a day ago, the ICE Sugar future is trading 0.42% lower.