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Rich Asplund

Sugar Prices Drop on Dollar Strength and Brazil Rains

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

March NY world sugar #11 (SBH25) Friday closed down -0.38 (-1.71%), and December London ICE white sugar #5 (SWZ24) closed down -6.30 (-1.12%).

Sugar prices Friday posted moderate losses due to a stronger dollar. Sugar has been under pressure this week, with NY sugar posting a 2-week low Monday and London sugar posting a 1-1/2 month low Wednesday on forecasts for beneficial rain in Brazil's Center-South that eases concerns about excessive dryness. Forecaster Climatempo said rain will continue in Brazil's Center-South region over the next week. Brazil's Center-South is the country's main sugar-producing region.

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