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Barchart
Barchart
Rich Asplund

Sugar Prices Close Lower on Brazilian Real Weakness

Brazil India Thailand El Nino Unica USDA

May NY world sugar #11 (SBK24) on Tuesday closed down -0.52 (-2.35%), and May London ICE white sugar #5 (SWK24) closed down -8.10 (-1.29%).

Sugar prices Tuesday posted moderate losses as weakness in the Brazilian real (^USDBRL) sparked long liquidation in sugar futures.   The real on Tuesday dropped to a 4-1/2 month low against the dollar before recovering late in the session.  The weaker real encourages export selling from Brazil's sugar producers.

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