Sweet signal to the stock market / Will the sugar group be positive today?

According to Trade News, last night in world markets, the price of sugar reached its highest level in recent months and crossed the $ 20 per pound mark, setting a new ceiling.

A sharp drop in temperature and snowfall in Brazil has created a special polar climatic conditions for this major sugarcane producer in the world. This has affected the production of agricultural products, including sugarcane, and with the decline in production, the price of sugar in international markets has grown significantly.

But can this event have a positive effect on the trading process of the sugar group on the Tehran Stock Exchange?

Since the pricing of basic commodities such as sugar in the country is done in an orderly and approved manner, changes in the world market will certainly not affect the price of sugar immediately, but if this upward trend continues, sales prices will certainly be affected.

Therefore, this news can be considered as a fundamentally positive signal for the sugar group. At the end of last year, however, a license was issued for the symbols of this group to increase the price of sugar beet by 100%. Of course, this issue could not break the heavy sales queue of sugar symbols at that time, which was created due to the negative atmosphere of the whole market, and until July of this year, most of the symbols of this group were facing the sales queue.

However, since traditionally, sugar symbols often act in the opposite direction of the market, it should be seen in today’s trading, which according to the predictions of most business news experts will be followed by a positive trend, this group can leave a green day or No?

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