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Barchart
Barchart
Rich Asplund

Sugar Closes Higher on Signs of Strong Demand

Oct NY world sugar #11 (SBV23) on Friday closed +0.31 (+1.29%), and Aug London white sugar #5 (SWQ23) closed +7.10 (+1.02%).

Sugar prices Friday extended his week's rally, with NY sugar posting a 2-1/2 week high and London sugar posting a 3-week high.   Signs of strong demand pushed sugar prices higher Friday after there were only 124,250 MT of white sugar deliveries to settle against the expiring August London sugar contract, down -45% from last year.  Smaller deliveries are a bullish sign since that suggests that there aren't many sellers interested in delivering physical sugar.

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