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Barchart
Barchart
Rich Asplund

Sugar Prices Gain as the Brazilian Real Rallies

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March NY world sugar #11 (SBH25) Tuesday closed up +0.06 (+0.31%), and March London ICE white sugar #5 (SWH25) closed up +4.50 (+0.89%).

Sugar prices on Tuesday settled moderately higher as they consolidated below Monday's 3-week highs.  Over the past week, recent strength in the Brazilian real (^USDBRL) has fueled fund short covering in sugar futures.  The real on Tuesday rallied to a 2-month high against the dollar, discouraging export selling from Brazil's sugar producers.

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