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Barchart
Barchart
Rich Asplund

Brazilian Real Strength Sparks Short Covering in Sugar Futures

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

March NY world sugar #11 (SBH25) today is up +0.24 (+1.09%), and December London ICE white sugar #5 (SWZ24) is up +7.90 (+1.42%).

Sugar prices are moderately higher today as a rally in the Brazilian real (^USDBRL) to a 2-1/2 week high against the dollar fueled short covering in sugar futures.  The stronger real discourages export selling from Brazil's sugar producers.

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