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Barchart
Barchart
Rich Asplund

Sugar Prices Mixed as the Dollar Strengthens

March NY world sugar #11 (SBH24) on Thursday closed -0.05 (-0.19%), and Dec London white sugar #5 (SWZ23) closed +1.90 (+0.27%).

Sugar prices Thursday settled mixed.  A stronger dollar (DXY00) Thursday was bearish for most commodity prices, including sugar.  Also, sugar remains under pressure on negative carryover from Tuesday when Unica reported that Brazil Center-South sugar output in the second half of September rose +98% y/y to 3.364 MMT and that sugar output in the 2023/24 crop year through September rose +23.8% y/y to 32.615 MMT.  Also, 49.54% of the crushed sugarcane was used for sugar production this year, an increase from 45.46% last year.  

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