March NY world sugar #11 (SBH25) Thursday closed up +0.16 (+0.73%), and December London ICE white sugar #5 (SWZ24) closed up +2.10 (+0.37%).
Sugar prices recovered from early losses on Thursday and settled moderately higher. Short covering emerged in sugar futures today after Meteorologist Climatempo reduced the chances for rainfall to scattered from widespread in Brazil's Center-South, the country's largest sugar-producing region. Sugar prices Thursday initially retreated, with NY sugar falling to a 4-week low and London sugar sliding to a 1-week low on the outlook for heavy rain in Brazil's Center-South region over the next week.
