Sugar No.11 market closed today due to Juneteenth Holiday

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Today the Aug’23 contract opened at a price of 704.2, showcasing a slight increase compared to the previous day’s closing price of 702.5. At 09:15 am, the Aug’23 contract swiftly ascended to its day’s high, reaching the level of 710.8, however, what followed next was a gradual decline in its value. The Aug’23 contract, having peaked in the morning, began a slow descent from its day’s high. The price steadily dwindled until it eventually reached the 702 level, for the subsequent hours leading up to the close of the market, the contract remained stable at this level, exhibiting minimal fluctuations drove by a low liquidity market (-57% compared to the last 14 days average). The settlement price was 701.2, -1.3 from Friday settlement and a -0.19% change from the previous session. Aug’ 23 registered 2K lots of volume, and the Q23/V23 spread closed at +3.00

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Jon Whybrow

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

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