{"id":61642,"date":"2014-10-09T09:26:06","date_gmt":"2014-10-09T13:26:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=61642"},"modified":"2014-10-09T10:05:34","modified_gmt":"2014-10-09T14:05:34","slug":"sugar-fall-forecasted-amid-brazil-drought","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/sugar-fall-forecasted-amid-brazil-drought\/","title":{"rendered":"Sugar Fall Forecasted Amid Brazil Drought"},"content":{"rendered":"
October 9, 2014<\/div>
\r\n<\/div><\/div>

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Sugar futures is expected to mark its first deficit in five years amid the drought cuts supplies in Brazil, the world\u2019s\u00a0 biggest exporter and producer of the commodity, according to RCMA Group Pte.<\/p>\n

The dry weather in India and Brazil may cut the two biggest producers\u2019 output for the first time since 2010, the US Department of Agriculture forecasted. Brazil\u2019s cane harvest is expected to fall by approximately 10% in the year starting April 1, said Jonathan Drake, Chief operating officer of RCMA Group. Drake also said that Brazil has raised the amount of ethanol used in fuel and may raise gasoline prices as the country holds its presidential election. If Aecio Neves wins the presidential election, it would help business and may boost the ethanol industry, Drake added.\u00a0<\/span><\/p>\n

Prices rose to 17.12 cents per pound on Tuesday, the highest in a month after climbing 6.2% in September. Futures gained 0.7% to 17.04 cents on ICE futures in the US on Thursday.<\/p>\n

The crop is projected to decline 4.8% to 619 million tons due to the bad weather in the center south growing area, according to the USDA\u2019s Foreign Agricultural Service forecasts.\u00a0 Drake also commented on harvest in India could be reduced due to the weak monsoon. The Ministry of Agriculture said the production could drop from 350 million tons to 342.8 million tons.<\/p>\n

Data from the USDA revealed that the global sugar inventories are expected to fall 2.4% to 44.4 million tons by the year end to 2015.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

However, output is expected to increase 0.6% to 183.75 million tons by next year as consumption expands by 2.1% to 182.45 million tons, a group based in London estimates.<\/p>\n

 <\/p>\n

Visit<\/i><\/strong>\u00a0<\/i><\/b>www.hymarkets.com \u00a0<\/a>\u00a0to find out more about our products\u00a0<\/i><\/b>and start trading today with only $50 using the latest trading technology today.<\/i><\/strong><\/p>\n

The post Sugar Fall Forecasted Amid Brazil Drought<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Sugar futures is expected to mark its first deficit in five years amid the drought cuts supplies in Brazil, the world\u2019s\u00a0 biggest exporter and producer of the commodity, according to RCMA Group Pte. The dry weather in India and Brazil may cut the two biggest producers\u2019 output for the first […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61642","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61642"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61642\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}