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Barchart
Barchart
Rich Asplund

Dollar Weakness Sparks Short Covering in Sugar

Brazil Green Pool Commodity Specialists India London NY Thailand USDA

May NY world sugar #11 (SBK25) Tuesday closed up +0.25 (+1.30%), and May London ICE white sugar #5 (SWK25) closed up +2.30 (+0.42%).

Sugar prices Tuesday recovered from 1-week lows and settled moderately higher as a decline in the dollar index (DXY00) sparked short covering in sugar futures.  Sugar prices have rallied over the past two weeks, with NY sugar posting a 1-month high last Tuesday and London sugar posting a 4-month high on signs of lower global sugar production.  

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