March NY world sugar #11 (SBH25) Monday closed down -0.35 (-1.58%), and December London ICE white sugar #5 (SWZ24) closed down -3.50 (-0.62%).
Sugar prices Monday settled moderately lower, with NY sugar falling to a 1-month low and London sugar dropping to a 1-1/2 week low. Forecasts for abundant rains in Brazil's Center-South are undercutting sugar prices. Meteorologist Climatempo said today 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.
