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Barchart

Rich Asplund

Strength in the Brazilian Real Sparks Short Covering in Sugar Futures

Brazil India Thailand ISM London NY Unica USDA

October NY world sugar #11 (SBV24) today is up +0.29 (+1.62%), and Oct London ICE white sugar #5 (SWV24) is up +7.10 (+1.40%).

Sugar prices today are posting moderate gains due to the strength of the Brazilian real (^USDBRL). Short covering emerged in sugar futures today after the real rallied to a 1-week high against the dollar, discouraging export selling from Brazil's sugar producers.

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