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Barchart
Barchart
Rich Asplund

Lackluster Rain in Brazil Pushes Sugar Prices Higher

Brazil Green Pool Commodity Specialists India Thailand USDA

March NY world sugar #11 (SBH25) Thursday closed up +0.41 (+2.07%), and May London ICE white sugar #5 (SWK25) closed up +11.00 (+2.12%).

Sugar prices on Thursday rallied to 8-week highs and settled sharply higher due to concern about Brazil's sugar crop.  Alvean, the world's largest sugar trader, said below-average precipitation in Brazil means sugarcane is underdeveloped in some areas, and if showers remain weak, the sugar harvest that begins in April could be delayed, and sugar production would suffer.  

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