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Barchart
Rich Asplund

Sugar Prices Fall as Forecasts for Rains in Brazil Ease Drought Concerns

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

March NY world sugar #11 (SBH25) Tuesday closed down -0.10 (-0.46%), and December London ICE white sugar #5 (SWZ24) closed down -1.90 (-0.34%).

Sugar prices Tuesday posted moderate losses for a second day, with NY sugar falling to a 1-month low.  Forecasts for abundant rains in Brazil's Center-South over the next week are reducing drought concerns and are weighing on sugar prices.  Meteorologist Climatempo on Monday said that more significant rains are expected in Brazil's Center-South from Friday onwards, which will keep temperatures milder and improve soil moisture levels.  The Center-South is Brazil's largest sugar-producing region.  

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