No.11 market opened on Oct’22 at 18.26, one point below the previous day’s settlement. Right in the opening, prices quickly spiked 20 points with strong volume of buyers, reaching the daily high of 18.43 at 8h38am. The initial buying power was not sufficient to keep the market going up. Right after, the market dropped to the 18.33 level and held a lateral move around that range. Around 9h45am market weakened to the 18.17 level when at 11 am, the 18.14 daily low was registered. At 1h30pm, big buyer volumes increased market levels to 18.25, when prices oscillated between 18.20 and 18.30 until the closing at 18.25. The settlement price was 18.24, 0.03 below yesterday’s settlement and a -.16% change from the previous session. Oct 22 registered 36k lots of volume, lower volume compared to the previous sessions and the V22/H23 spread remained strong closing at +.03.
Today the white sugar market printed an upward move at the opening with some overnight gains with Oct’22 at 555.2 (+1.3). However, later in the morning, the market was pressured by the sellers, and Oct’22 reached the daily low valued at 544.7. For the following hours, the market remained between 546 – 549 with a small volume until around 2h00pm. In the early afternoon, a bullish move helped the market to recover some of the morning’s losses supporting Oct’22 at 553. 45 minutes before the market closure, another bullish hike led prices to a similar level to yesterday’s close, then Oct’22 closed at 552, a decrease of 1.9 USD/mt (-0.34%), with the white premium at 149.87 and the Out/Dec’22 spread at 26.5.