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Barchart
Barchart
Rich Asplund

Brazilian Real Weakness Pressures Sugar Prices

March NY world sugar #11 (SBH25) Monday closed down -0.01 (-0.05%), and March London ICE white sugar #5 (SWH25) was unchanged.

Sugar prices Monday extended their 2-week slide, with NY sugar posting a 2-1/2 month low and London sugar posting a 3-week low.  Weakness in the Brazilian real (^USDBRL) weighed on sugar prices.  The real fell -1.61% Monday, just above last Friday's record low against the dollar.  The weaker real encourages export selling by Brazil's sugar producers.

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