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Barchart
Barchart
Rich Asplund

Rising Brazil Sugar Production and Record Low Brazilian Real Hammers Sugar Prices

Brazil India London NY ISO Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization Unica USDA

March NY world sugar #11 (SBH25) Wednesday closed down -0.19 (-0.96%), and March London ICE white sugar #5 (SWH25) closed down -3.40 (-0.66%).

Sugar prices Wednesday added to this week's sharp losses, with NY sugar posting a 3-month low and London sugar posting a 4-month low.  Brazil's larger-than-expected sugarcane crush could boost sugar supplies and is bearish for prices.  Last Thursday, Unica reported that Brazil crushed 20.35 MMT of sugarcane in the second half of November, above expectations of 15.5 MMT.  

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