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Barchart
Barchart
Rich Asplund

Sugar Prices Gain on Short Covering as the Brazilian Real Rallies

Brazil India ISMA Thailand FAs ISO London NY USDA

March NY world sugar #11 (SBH26) on Thursday closed up +0.08 (+0.57%), and December London ICE white sugar #5 (SWZ25) closed up +0.20 (+0.05%).

Sugar prices recovered from early losses and moved higher on Thursday as strength in the Brazilian real sparked short covering in sugar futures.  The real (^USDBRL) climbed to a 4-week high against the dollar on Thursday, discouraging export sales from Brazil's sugar producers.

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