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Barchart
Barchart
Rich Asplund

Brazilian Real Strength Sparks Short Covering in Sugar Futures

Brazil India London NY ISO Thailand USDA

March NY world sugar #11 (SBH25) today is up +0.09 (+0.47%), and March London ICE white sugar #5 (SWH25) is up +5.30 (+1.05%).

Sugar prices today are moderately higher but remain below Monday's 3-week highs.  Today's rally in the Brazilian real (^USDBRL) to a 2-month high has encouraged short covering in sugar futures.  The stronger real discourages export selling from Brazil's sugar producers.

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