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May 23, 2023
Sugar is down to $25.81 per pound, after ending yesterday at $26. Overall, a 0.69% loss or 19 cents today.
- Sugar is currently trading at $25.81 following the release of Fed Chair Powell speech data from the United States.
- Today's fall comes after a 3 day uptrend, during which the ICE Sugar future added 0.82% to its value
United States New Home Sales (Apr) came out at 683,000, while a consensus of analysts was expecting 663,000. United States Services PMI released today at 13:45 UTC with a figure of 55.1, while the previous figure was 53.6.
Tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 5 million. United States FOMC Meeting Minutes is expected tomorrow at 18:00 UTC.
After ending yesterday's session at $85.32, Cotton lost $1 and is trading around $84.32. Coffee is trading around $187.75 (down $1.45).
The Sugar future now trading 29.76% above its 3-month low of $17.4.
