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Barchart
Barchart
Rich Asplund

Sugar Prices Decline on Drier Weather Forecasts for Brazil

Brazil India NY International Sugar Organization Deficit Foreign Agricultural Service Thailand USDA London Covrig Analytics

March NY world sugar #11 (SBH27) closed down -0.28 (-1.33%) on Friday, and December London ICE white sugar #5 (SWZ26) closed down -6.20 (-1.10%).

Sugar prices came under pressure on Friday as forecasts for hot, dry weather next week in Brazil’s Center-South region, the country’s largest sugar-producing area, sparked long liquidation in sugar futures. The drier weather should accelerate Brazil’s sugar harvest and resume cane crushing at mills, boosting sugar supplies.

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