After closing the previous trading day at $25.17, Sugar is up to $25.54 per pound, which makes for a move of 1.47%/37 cents today.
United States's Initial Jobless Claims new data released of 242,000 below its previous figure.
On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 240,000 with a reading of 242,000. United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.
Meanwhile, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.
A look at other Softs also shows upside as having closed the previous session at $78.76, Cotton is up 3.81% today to currently trade at around $81.76. Cocoa improves 1.64% to trade around $2,917.
While the ICE Sugar future is higher so far today, these Softs commodities are underperforming: Coffee is down to $183.75, losing $1.75, after closing at $185.5 in the preceding trading session.
Furthermore, the market is looking at as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 180,000, following on from the preceding figure of 236,000. New data is set to be published tomorrow at 12:30 UTC. Projections for United States Unemployment Rate are set for a continuation of decline with 3.6 while previous data was 3.5; data will be released tomorrow at 12:30 UTC.
The ICE Sugar future has fallen back around 4.7% from the significant high of $26.41 set 7 days ago.