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Rich Asplund

Brazil Rains Ease Drought Concerns and Weigh on Sugar Prices

Brazil Drought India NY London Thailand the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) today is down -0.12 (-0.55%), and December London ICE white sugar #5 (SWZ24) is down -2.60 (-0.46%).

Sugar prices today are falling for a second day, with NY sugar posting a 1-month low. Forecasts for abundant rains in Brazil's Center-South over the next week are reducing drought concerns and are weighing on sugar prices. Meteorologist Climatempo on Monday said that more significant rains are expected in Brazil's Center-South from Friday onwards, which will keep temperatures milder and improve soil moisture levels. The Center-South is Brazil's largest sugar-producing region.

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