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Barchart
Rich Asplund

Rain Forecasts for Brazil Undercut Sugar Prices

Brazil India Drought London Thailand the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) today is down -0.17 (-0.76%), and December London ICE white sugar #5 (SWZ24) is down -2.20 (-0.39%).

Sugar prices today gave up an early gain and turned lower on forecasts for abundant rain in Brazil's Center-South over the next week, which partially alleviated drought concerns.  Meteorologist Climatempo on Monday said that more significant rains are expected in Brazil's Center-South from Friday onwards, which will keep temperatures milder and improve soil moisture levels.  The Center-South is Brazil's largest sugar-producing region.  

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