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Barchart
Barchart
Rich Asplund

Sugar Prices Push Higher on Brazilian Real Strength

Brazil United States India NY London ISMA ISO Thailand Czarnikow FAs

March NY world sugar #11 (SBH26) on Monday closed up +0.15 (+1.05%), and May London ICE white sugar #5 (SWK26) closed up +1.60 (+0.39%).

Sugar prices rallied sharply on Monday, with NY sugar posting a 2.5-week high and London sugar posting a 1.5-week high.  Strength in the Brazilian real (^USDBRL) is bullish for sugar prices.  The real jumped to a 1.75-year high against the dollar on Monday, discouraging export sales from Brazil's sugar producers.

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