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Barchart
Barchart
Rich Asplund

Sugar Prices Little Changed as Recent Fund Short-Covering Fades

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March NY world sugar #11 (SBH25) Thursday closed up +0.02 (+0.10%), and March London ICE white sugar #5 (SWH25) closed down -0.20 (-0.04%).

Sugar prices on Thursday settled little changed as the recent spate of short-covering in sugar futures has subsided.  Sugar prices previously moved higher over the past week as strength in the Brazilian real (^USDBRL) fueled fund short-covering in sugar futures.  On Wednesday, the real rallied to a 2-month high against the dollar, discouraging export sales from Brazil's sugar producers.

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