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Barchart
Barchart
Rich Asplund

Brazilian Real Strength Underpins Sugar Prices

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March NY world sugar #11 (SBH25) Friday closed up +0.33 (+1.77%), and March London ICE white sugar #5 (SWH25) closed up +11.30 (+2.32%).

Sugar prices rallied for a third day on Friday and posted 1-1/2 week highs.  Over the past three sessions, strength in the Brazilian real (^USDBRL) has prompted fund short covering in sugar futures.  The real climbed to a 1-3/4 month high Friday, discouraging export selling from Brazil's sugar producers.

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