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Barchart
Barchart
Rich Asplund

Brazilian Real Strength Spurs Short Covering in Sugar

Brazil India London NY ISO Thailand USDA

March NY world sugar #11 (SBH25) Thursday closed up +0.53 (+2.92%), and March London ICE white sugar #5 (SWH25) closed up +9.30 (+1.95%).

Sugar prices Thursday rallied sharply for a second day and posted 1-week highs.  Short covering in sugar futures accelerated Thursday after the Brazilian real (^USDBRL) rallied to a 6-week high.  The stronger real discourages export selling from Brazil's sugar producers.

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