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Barchart

Rich Asplund

Strength in the Brazilian Real Sparks Short Covering in Sugar

Brazil Thailand India Conab London NY Unica USDA

May NY world sugar #11 (SBK24) this morning is up +0.04 (+0.21%), and Aug London ICE white sugar #5 (SWQ24) is up +1.60 (+0.28%).

Sugar prices this morning are posting modest gains as strength in the Brazilian real has sparked short-covering in sugar futures. The real (^USDBRL) today rallied to a 1-1/2 week high against the dollar, discouraging export selling from Brazil's sugar producers.

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