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Barchart
Barchart
Rich Asplund

Sugar Prices Finish Sharply Higher on Concern Over Brazil Sugar Production

Brazil India London NY ISM Thailand ISO USDA

October NY world sugar #11 (SBV24) Wednesday closed up +1.18 (+5.91%), and December London ICE white sugar #5 (SWZ24) closed up +19.80 (+3.70%).

Sugar prices Wednesday rallied sharply for a second day, with NY sugar posting a 5-1/4 month high and London sugar posting a 2-week high.  Sugar prices are soaring as drought conditions in Brazil threaten its sugarcane crops.  Fund buying this week supports sugar prices after meteorologist Climatempo said most of this week will continue to be hot and dry in Brazil's sugar-producing areas.  

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