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Barchart
Barchart
Rich Asplund

Dollar Weakness Sparks Short-Covering in Sugar Futures

India NY USDA Thailand Brazil ISO London Unica

March NY world sugar #11 (SBH26) on Thursday closed up +0.11 (+0.70%), and December London ICE white sugar #5 (SWZ25) closed up +0.50 (+0.11%).

Sugar prices settled higher on Thursday as a slide in the dollar index (DXY00) to a 1-week low sparked short-covering in sugar futures.  On Tuesday, NY sugar fell to a 3-week low, and London sugar dropped to a 4.25-year nearest-futures low.  The outlook for robust global sugar supplies is weighing on prices.  On Monday, BMI Group projected a global 2025/26 sugar surplus of 10.5 MMT, and last Tuesday, Covrig Analytics projected a global 2025/25 sugar surplus of 4.1 MMT.

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