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Barchart
Barchart
Rich Asplund

Forecasts for Frequent Rain in Brazil Spurs Short Covering in Sugar

Brazil India Thailand El Nino London NY USDA

March NY world sugar #11 (SBH24) on Wednesday closed +0.26 (+1.01%), and Dec London white sugar #5 (SWZ23) closed +2.10 (+0.30%).

Sugar prices Wednesday recovered from 5-week lows and closed moderately higher.  Short covering emerged in sugar futures Wednesday after Rural Clima Meteorlogia said Brazil's top sugar cane growing areas should receive frequent rains through October, fueling concern that the heavy will slow the pace of sugar cane crushing and reduce sugar output.

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