March NY world sugar #11 (SBH27) closed up +0.26 (+1.25%) on Tuesday, and December London ICE white sugar #5 (SWZ26) closed up +1.20 (+0.21%).
Sugar prices settled higher on Tuesday, just below last week’s significant highs. Last Wednesday, NY sugar climbed to a 19-month nearest-futures high and London sugar to a 22-month high as ongoing rains in Brazil’s Center-South sugar-growing region slowed harvesting and disrupted cane crushing at Brazil’s sugar mills, curbing supplies.