After six days of declines, Sugar is up 42 cents today

After closing the previous trading day at $23.85, the Sugar future is up to $24.27 per pound, which makes for a move of 1.76%/42 cents today.

The ICE Sugar future is currently trading at $24.27 following the release of Existing Home Sales (Mar) data from the United States.

On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 240,000 with a reading of 245,000.

At the same time, United States Existing Home Sales (Mar) came out at 4.44 million, while a consensus of analysts was expecting 4.5 million. United States Philadelphia Fed Manufacturing Index (Apr) released today at 12:30 UTC with a figure of -31.3, while the previous figure was -23.2.

Japanese candlestick formations show a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal.

At the same time, Coffee dips 2.97% to trade around $194.2. Cotton is down $2.27 from the beginning of the session and now trades around $81.38. Cocoa is down to $2,963, losing $14, after closing at $2,977 in the preceding trading session.

The commodity has been trending positively for about a month. The past 3 months have been positive for Sugar as it added 21% compared to its 3-month low of $17.4.