The global raw sugar market experienced a notable downturn on Monday, with prices plummeting to a four-year low. 

The commodity was trading just below 16 US cents per pound, a significant drop that has raised concerns among producers and traders alike. 

This sharp decline can be attributed to a confluence of factors, including robust global supplies, a stronger US dollar, and subdued demand in key importing nations.

However, the recent bearish sentiment was primarily triggered by a surprising surge in sugar production reported by Unica, the prominent Brazilian sugar industry association. 

Specifically, Unica’s data revealed an unexpectedly robust increase in sugar output from Brazil’s Centre-South region during the latter half of May. 

This particular area is a crucial global supplier, and its heightened production figures introduced a substantial amount of additional supply into the market, leading to concerns about an impending surplus and subsequently driving prices lower.

Production volumes increase

Production volume saw a 9% year-on-year increase, reaching 2.95 million tons, primarily driven by a greater volume of processed sugar cane.

During the second half of May, a significant portion of the sugarcane harvest, specifically almost 52%, was directed towards sugar processing. 

This indicates a substantial commitment to sugar production within the agricultural and industrial sectors, highlighting its importance as a primary product derived from sugarcane. 

The remaining portion of the sugarcane would likely have been utilised for other purposes, such as ethanol production, jaggery, or animal fodder, depending on market demands and existing infrastructure. 

The efficiency of this processing and the overall yield would have been crucial factors in determining the economic success of the sugar industry during this period.

In the same period of the previous year, the processing figure was just over 48%.

Carsten Fritsch, commodity analyst at Commerzbank AG, said in a report:

Apparently, the low oil price had made the production of ethanol less attractive (in 2025), so that sugar mills increasingly focussed on sugar production. 

Prices 

A broker attributed the subsequent price recovery to a 4% decrease in sugarcane’s sugar content compared to the previous year, which otherwise would have led to a greater increase in sugar production.

Fritsch said:

In our opinion, this is more likely to be an overdue rebound after the previous price slide.

Speculative market participants’ positioning indicated an already highly negative sentiment. By early June, their net short positions, last seen over three months prior, had resurfaced.

Net short positions continued to expand in the last reporting week.

“This means that a lot of price-dampening news is likely to have already been priced in, which should limit further downside potential,” Fritsch added. 

Despite the initial slump, the market saw a modest recovery later on Monday, with prices recouping some of their losses. However, prices on the Intercontinental Exchange were down more than 1% at the time of writing on Tuesday. 

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Boeing stock price has moderated a bit to around $200 as investors assess the impact of the recent Air India crash. It was trading at $201 on Tuesday, down from the year-to-date high of $218. This price is about 56% above the lowest point this year. 

Air India plane crash to have limited impact on Boeing

Boeing stock price crashed last week after an aircraft traveling from India to the UK crashed shortly after its take-off, killing 270 people.

This crash brought memories of the recent Boeing accidents, including the December 2018 Jeju Air crash and the Ethiopian Airlines crash.

Boeing stock price crashed as investors predicted that the new crash would present a new crisis to the company. 

However, there are signs that this crash will not lead to a crisis for the company. For one, Boeing 787 Dreamliner has one of the best safety track records in the industry. 

The plane was delivered to Air India in 2013, meaning that the accident could have been due to maintenance issues. 

Therefore, it is likely that the company will resume the uptrend it has been at in the past few months.

Read more: Air India crash: airline ordered to inspect Boeing 787 fleet; probe on engine thrust

Boeing is making progress

There are signs that Boeing’s business is recovering well, as the company will likely not be blamed for the Jeju Air and Air India plane crashes. 

First, Boeing has started receiving orders from airlines. Some of these companies are opting for Boeing because of its smaller order book compared to Airbus, which has a backlog of over 8,000 planes. 

As such, a company that orders a Boeing today will likely receive it earlier than those who order from Airbus. 

Companies are also opting for Boeing because of its safety record. While the company’s planes have had accidents recently, the reality is that it has affected a tiny number. Also, its aircraft, like 747, 777, and 787 have a solid safety record. 

Qatar Airways recently ordered 210 widebody planes, while AviLease ordered 737 Max jets. China Airlines ordered Boeing 777x passenger and freighter planes. 

Boeing is also undergoing a turnaround led by Kelly Ortberg, who has prioritized improving safety and its profitability. 

Boeing revenue growth

The most recent results showed that Boeing’s revenue rose by 18% to $19.49 billion, while its operating margin rose to 2.4%. 

Most importantly, it narrowed its loss from over $355 million in the first quarter of 2024 to $31 million. Ortberg said:

 “We continue to execute our plan, are seeing early positive results, and remain committed to making the fundamental changes needed to fully recover the company’s performance while navigating the current environment.” 

The company has also improved its balance sheet, ending the quarter with over $23.7 billion. It reduced its debt to $53.6 billion and has access to credit lines worth over $10 billion. 

Therefore, these numbers and the upcoming 737 ramp-up mean that the company will continue growing this year. 

Boeing stock price analysis

The daily chart shows that the BA share price bottomed at $129.13 in April and peaked at $218 earlier this month. This rebound mirrors the performance of other companies and US indices.

Boeing stock price peaked at the 61.8% Fibonacci Retracement level, which explains why it has pulled back. 

The stock formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. 

Therefore, the Boeing stock price will likely rebound and point to more gains, potentially to the 78.6% retracement level at $238. This view will be confirmed if the stock rises above the key resistance point at $218. 

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Renault Group’s high-profile CEO, Luca de Meo’s resignation after a five-year tenure that steered the French carmaker through a critical recovery phase is likely to cause near-term uncertainty and pose questions about its transition from restructuring to a growth phase, analysts say.

In a surprise announcement made Sunday evening, Renault confirmed that de Meo will remain in his role until July 15, 2025, and has already initiated the search for his successor.

The announcement sent its shares tumbling by as much as 8% at the open on Monday, its biggest one-day percentage drop since February 2022, however the stock was back in the green on Tuesday.

Multiple reports suggest that the Italian executive will soon take over as CEO of French luxury conglomerate Kering, which owns brands such as Gucci and Balenciaga.

The move marks a significant shift from the automotive industry to luxury retail, and raises questions about the future direction of Renault at a time when the company was just emerging from crisis.

Luca de Meo’s transformative tenure at Renault and likely impact of his departure

CEO de Meo’s exit comes at a pivotal moment.

When he assumed leadership in mid-2020, Renault was reeling from a record first-half loss and undergoing a drastic restructuring effort that included plans to cut 15,000 jobs.

Since then, Renault’s share price has nearly doubled, its earnings margins hit record highs, and its lineup has been significantly revamped.

Renault’s lineup was “completely transformed” under De Meo, Stephen Reitman, an equity analyst at Bernstein with the equivalent of a buy rating on the stock, wrote to clients.

He called the CEO’s departure a shock and “unequivocally a blow to Renault.”

Adding to the leadership vacuum is the earlier resignation of CFO Thierry Pieton, another widely respected executive.

Analysts at Citi acknowledged Renault’s strong fundamentals—healthy free cash flows, a robust product pipeline, and improved profitability—but cautioned that the dual exits introduce an unwelcome layer of uncertainty.

They said that with Renault due to complete its restructuring plan and move to a new growth plan, the leadership uncertainty comes at an “unhelpful time”.

“Whilst we continue to believe that Renault earnings can be stronger for longer, with limited risks from China and tariffs, and the shares are close to year-lows now, it is inevitable this will make investors think twice,” they said.

Will the exit reshape Renault’s mid-term growth strategy?

With its restructuring plan nearing completion, Renault was expected to unveil a new mid-term growth strategy by the end of this year.

The roadmap was to focus on product innovation, scaling operations, and expanding beyond traditional car manufacturing.

However, the sudden top-level exits may force a rethink.

“The departure of Renault’s CEO might create some near-term uncertainty until a replacement is announced,” UBS analyst David Lesne wrote.

“The departure means that within five months, both the CEO and CFO will have left the company for opportunities outside of the auto sector. Both were seen by investors as among the best in the industry,” he said, adding that it will remain to be seen whether its mid-term plan will be changed by a new CEO.

Investors, already jittery amid global EV competition and geopolitical tensions, could grow even more cautious, experts say.

Despite strong performance post-pandemic, Renault still faces structural headwinds—ranging from the high cost of EV transition to mounting trade friction and aggressive moves by Chinese rivals in the European market.

Search begins for de Meo’s successor

Attention now turns to who will fill de Meo’s shoes.

Two leading names have emerged: Denis Le Vot, a long-serving Renault executive currently heading its budget Dacia brand, and Maxime Picat, currently overseeing global supply chains at Stellantis.

Both men are considered credible candidates with a track record of delivering on brand performance.

Le Vot, known for his work in emerging markets and at alliance partner Nissan, has helped Dacia thrive, with its Sandero and Duster models consistently ranking among Europe’s top sellers.

Picat, on the other hand, was previously head of Peugeot and played a key role in the launch of its bestselling SUVs.

Analysts at Kepler Cheuvreux and JP Morgan view both internal and external candidates as plausible, including seasoned executives from Stellantis, VW Group, or even Nissan.

While Renault has declined to comment on the succession process, sources close to Stellantis indicated that Picat, after missing out on the CEO role at his current employer, might be open to discussions.

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Stocks edged lower on Tuesday as investors assessed escalating tensions in the Middle East and a disappointing set of retail sales data.

The Dow Jones Industrial Average fell by 129 points, or 0.3%, while the S&P 500 and Nasdaq Composite each slipped 0.4%.

Market sentiment took a hit following renewed conflict between Israel and Iran.

On Monday evening, US President Donald Trump urged civilians to “immediately evacuate Tehran” via a post on Truth Social.

Trump left the G7 summit in Canada early to address the situation, departing without finalizing trade deals with several member nations.

French President Emmanuel Macron said Monday that Trump had offered to broker a ceasefire between Israel and Iran.

However, Trump rejected the claim, stating his early departure had “nothing to do with a Cease Fire” and was prompted by “much bigger” matters.

The ongoing conflict in the Middle East dominated the G7 agenda.

“We’re all in a bit of a limbo in terms of whether anything substantive came out of the summit and whether Trump was alluding to new information with his post and his early G7 meeting departure,” Deutsche Bank strategist Jim Reid wrote in a note.

Oil prices rebounded as the conflict intensified. West Texas Intermediate crude futures rose 1.4%, while Brent futures gained 1.6%, reversing Monday’s losses.

Meanwhile, weak economic data added to the pressure. US retail sales fell 0.9% in May, underperforming the Dow Jones estimate for a 0.6% decline, raising concerns about the strength of consumer spending.

Retail sales data disappoints

US retail sales declined more than expected in May, as consumers pulled back spending amid falling gas prices and mounting economic uncertainty.

Retail sales dropped 0.9% for the month, steeper than the 0.6% decline forecast in the Dow Jones consensus, the Commerce Department said Tuesday.

The data, adjusted for seasonality but not inflation, also marked a second consecutive monthly drop, following a 0.1% decline in April.

Spending remained 3.3% higher compared to the same month last year.

However, the month-over-month pullback adds to concerns over consumer sentiment amid heightened geopolitical risks and tariff-related uncertainty.

Excluding autos, sales were down 0.3%, missing expectations for a 0.1% gain.

Meanwhile, the control group—which strips out volatile categories like autos, gas, and building materials—rose 0.4%, suggesting consumer demand remains somewhat resilient in areas more directly tied to GDP calculations.

A breakdown of the report showed notable weakness in several key categories.

Sales at building materials and garden supply stores fell 2.7%, while gasoline station receipts declined 2% on the back of lower energy prices.

Motor vehicle and parts dealers saw sales drop 3.5%, and spending at bars and restaurants fell 0.9%.

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