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May 11, 2023Sugar is down to $26.26 per pound, after ending yesterday at $26.66. Overall, a 1.5% loss or 40 cents today.
United States Producer Price Index didn't cause a noticeable effect even though it falls short expectations with 0.2%.
Highly important Producer Price Index data from United States beat analyst expectations of 0.3% with a reading of 0.2%. Initial Jobless Claims in United States fell short of market expectations (245,000) with a reading of 264,000, continuing the decline from the previous figure of 242,000.
On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of -917,000 with a reading of 2.95 million.
Taking a look at other Softs commodities, negative performances are evident as after ending yesterday's session at $3,026, Cocoa lost $32 and is trading around $2,994. After ending yesterday's session at $185.95, Coffee lost $2.6 and is trading around $183.35. Cotton is down 62 cents from the beginning of the session and now trades around $80.14.
The past 3 months have been positive for the Sugar future as it added 23.43% compared to its 3-month low of $17.4.
