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Barchart
Barchart
Rich Asplund

Sugar Prices Fall Back on Dollar Strength

India ISMA ISO Brazil Conab King Charles III London United Kingdom

July NY world sugar #11 (SBN23) on Monday closed down -0.23 (-0.87%), and Aug London white sugar #5 (SWQ23) did not trade with markets closed in the UK for the King's coronation.

Sugar prices Monday posted moderate losses as a stronger dollar sparked long liquidation in sugar futures.  Sugar prices are also under pressure on farmer hedge selling ahead of the upcoming Brazil sugar harvest.  Conab on Apr 26 forecasted that Brazil's 2023/24 sugar output would climb +4.7% y/y to 38.8 MMT, the second most ever, as crops recover from the previous season's adverse weather.

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