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Barchart
Barchart
Rich Asplund

Short Covering Pushes Sugar Prices Higher on Brazilian Real Strength

Brazil India London NY ISO Thailand USDA

March NY world sugar #11 (SBH25) today is up +0.50 (+2.753%), and March London ICE white sugar #5 (SWH25) is up +9.10 (+1.91%).

Sugar prices today rallied sharply for a second day and posted 1-week highs.  Short covering in sugar futures accelerated today after the Brazilian real (^USDBRL) rallied to a 6-week high.  The stronger real discourages export selling from Brazil's sugar producers.

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