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Barchart
Barchart
Rich Asplund

Sugar Closes Lower on Favorable Brazil Weather

Brazil India ISMA El Nino ISO London USDA

July NY world sugar #11 (SBN23) on Wednesday closed down -0.34 (-1.30%), and Aug London white sugar #5 (SWQ23) closed down -7.80 (-1.11%).

Sugar prices Wednesday closed lower on warmer Brazilian weather forecasts that reduced the chances for damaging frost.  Also, sugar saw carry-over pressure from Sunday's news that China's May sugar imports sank -87% y/y to 40,000 MT.  China is the world's largest sugar importer.  Sugar prices also saw some long liquidation pressure as July sugar prices fell back from last Friday's 1-month high.

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