The ICE Sugar future down to $25.88 today, continues bearish run

Sugar has been losing ground for 5 days, shedding a total of 2.85% of its value. Similar trend today: the ICE Sugar future is down to $25.88 per pound, after ending yesterday at $26.07. Overall, a 0.73% loss or 19 cents today.

New United States Crude Oil Inventories improved upon the previous 2.95 million figure while also exceeding analyst expectations with a reading of 5 million.

Highly important Retail Sales data from United States beat analyst expectations of 0.8% with a reading of 0.4%.

On the flip side, positive data for ICE Sugar released earlier when data for United States Crude Oil Inventories published today at 14:30 UTC came out at 5 million, beating projections of -920,000 and showing improvement over the preceding figure of 2.95 million.

Amid the market gloom, United States Building Permits (Apr) came out at 1.42 million, while a consensus of analysts was expecting 1.44 million.

Positive performances can be seen by looking at other Softs markets as Cotton is up 2.96%.

In addition, United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released tomorrow at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (May) is scheduled for tomorrow at 12:30 UTC. United States Existing Home Sales (Apr) scheduled to come out tomorrow at 14:00 UTC.

7 days ago the Sugar future reached a significant high of $26.64 but has consequently lost 2.14% since then.