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June 09, 2023
After closing the previous trading day at $25.09, Sugar is up to $25.55 per pound, which makes for a move of 1.83%/46 cents today.
Nevertheless, following a previous reading of 233,000, Initial Jobless Claims in United States released yesterday at 12:30 UTC fell short of the 235,000 figure expected by analysts with an actual reading of 261,000.
Meanwhile, United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.39 trillion, while the previous figure was 8.39 trillion. United States Reserve Balances with Federal Reserve Banks released yesterday at 20:30 UTC with a figure of 3.31 trillion, while the previous figure was 3.21 trillion.
This rally in the ICE Sugar future's price coincides with other Softs as Cotton is up 0.56%.
30 days ago the Sugar future reached a significant high of $26.64 but has consequently lost 5.82% since then.
