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Barchart
Rich Asplund

Sugar Prices Close Lower on Rain Forecasts for Brazil

Brazil India Drought Thailand London NY the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) Wednesday closed down -0.29 (-1.26%), and December London ICE white sugar #5 (SWZ24) closed down -8.80 (-1.51%).

Sugar prices Wednesday gave up an early advance and closed moderately lower on forecasts for beneficial rain in Brazil, which eased drought concerns and sparked long liquidation in sugar futures.  The Commodity Weather Group’s six to ten-day forecast calls for widespread showers in Brazil.

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