
March NY world sugar #11 (SBH24) on Monday closed -0.59 (-2.16%), and Dec London white sugar #5 (SWZ23) closed -16.40 (-2.21%).
Sugar prices Monday fell sharply, weighed down by weakness in the Brazilian real and crude prices. On Monday, the real (^USDBRL) fell to a 1-week low against the dollar, encouraging export selling by Brazil's sugar producers. Also, on Monday, crude prices (CLZ23) tumbled more than -3% to a 4-week low, which weighed on ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.