Stock exchange news. A tendency towards decreased demand is observed at the market. Earlier articles informed about delayed loading of sugar in Brazilian ports, which was regarded as a reason for the rise of product price.
However, this phenomenon can be interpreted from a different angle: long queues of cargo ships are a sign of product demand. Queues in Brazilian ports have currently reduced 2-3 times, which indirectly reports that the global demand has decreased.
Mexico informs that the country’s export of sugar has increased 3 times in comparison with the previous year.
Technically, as explained by traders of Department of Derivatives Trading, the price is currently approaching a psychologically strong level 30, from which new price range 26-30 is most likely to be formed.
