subject: November 4 sugar afternoon assessment: external disk boost weak shocks continue Cheng sugar [print this page] November 4 sugar afternoon assessment: external disk boost weak shocks continue Cheng sugar
Zhengzhou sugar futures on November 4 to open higher after early shock consolidation, closing slightly up midday, shrinkage Masukura 1005 contract, to close cross Yinxian. The contract today opened 4,677 yuan / ton to close at 4,675 yuan / ton, 3, settled up 20 yuan / ton, volume 1,480,492 hand, positions 711,826 hands.
Some analysts believe that by ICE Sugar Up drive, 4 Zheng higher sugar shock, challenge up 4,700 yuan / ton of pressure, long and short divergence. In the Nov. 1 meeting at the Sugar Association, the main producing areas on the production of the new crop season in line with expectations, the new crop season sugar supply declined year on year, while demand is expected to remain high, tight supply and demand situation will continue. But for the purpose of locking in profits, the cash will ensure a strong set of business rallies, which led to the recent fierce, long and short of funds, is hard for unilateral movements, is expected to remain high and volatile sugar Zheng trend.
Outer disc area, ICE sugar futures rose 3, close to the resistance by technical buying. March raw sugar futures ended up 53 points at 23.97 cents / pound, after hitting a high of 24 cents / pound, in May contract closed up 51 points at 22.87 cents / lb.
Morgan Stanley (MorganStanley), head of commodity research at HusseinAllidina World Ethanol Conference in 2009, Gap said the cash purchase by India to promote, ICE benchmark raw sugar futures prices during the 2009/10 marketing year is expected to rise to 30 cents per pound, estimated average price of 23 cents.
Allidina said the weakness in India's domestic production, he forecast that the country imports in 2009/10 will be approximately 700 tons of sugar. The catalyst for the rising sugar prices. He also called the global sugar stocks / use ratios expected in 2009/10 dropped to a record low of 17.8%, may be even lower, due to tight supply in Brazil and India.
Domestically, some analysts believe that, from the National Bureau of Statistics released in October of macroeconomic data, economic situation is constantly improving, gradually speeding up the recovery process, and the future demand for sugar will continue to increase. According to the China Sugar Association, 2008/09 sugar consumption of sugar as the country's 1,390 tons of sugar over the previous period increased by 40 million tons, up 3.0%, while the future with the continued improvement in macroeconomic and industrial higher proportion of sugar will also maintain growth. From all the major sugar Food Growth in output terms, the basic annual growth rate of the major sugar foods are more than 10% annual growth rate of some food have reached 15%, or even 20%. By 2008 Melamine Events, the national fluid milk production and sales dropped sharply, from monthly yield on the author found that in 2009 sales of liquid milk production gradually return to 2008 levels, but play down the incident with melamine, the future of liquid milk market will maintain high growth , the resulting demand for sugar market is worth attention.
View was also expressed that the sugar content of food from September Sell Situation, the future of the sugar still on a steady growth in demand, the market expects the demand for the 2009/10 sugar crop season will be over 1,400 tons. The Nov. 1 meeting at the Sugar Association, the output from the main producing areas is expected to view the 2009/10 crop season of sugar production year will be slightly less tight supply and demand in the case of sugar, sugar Cheng Yi is expected to rise going down.
Fundamental news, the Brazilian Foreign Ministry Tuesday said that in October 2009 the Brazilian sugar exports held steady at 2.25 million tons year. In total exports, Brazil exported 1.7 million tons in October raw sugar and 547,100 tons of crystal sugar or refined sugar.
In October 2008, Brazil exported 1.5 million tons of raw sugar and 681,300 tons of crystal sugar. September 2009, the Brazilian raw sugar exports to 1.8 million tons, crystal sugar exports to 665,500 tons.
