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Barchart
Barchart
Rich Asplund

Signs of Weak Demand Undercut Sugar Prices

October NY world sugar #11 (SBV26) closed down -0.55 (-3.06%) on Thursday, and December London ICE white sugar #5 (SWZ26) closed down -15.40 (-2.94%).

Sugar prices extended their week-long slide on Thursday and tumbled to 3-week lows as demand concerns have spurred long liquidation. 499,350 MT of sugar was delivered against the October London sugar contract that expired on Tuesday, up +91% y/y and one of the largest deliveries for an October contract on record, signaling weak physical demand for sugar.

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