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Barchart
Barchart
Rich Asplund

Sugar Prices Higher on Dollar Weakness and Poor Brazil Cane Quality

Brazil India Unica Conab ISMA USDA

July NY world sugar #11 (SBN25) today is up +0.40 (+2.31%), and August London ICE white sugar #5 (SWQ25) is up +11.30 (+2.32%).

Sugar prices today are sharply higher as a slump in the dollar index (DXY00) to a 2-week low has fueled fund short covering in sugar futures.  Prices rose even further today after Unica said that the poor cane quality of the current sugar harvest in Brazil had prompted sugar millers to use more of the cane for ethanol than sugar, curbing sugar production.

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