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Barchart
Barchart
Rich Asplund

Sugar Prices Rebound as Brazilian Real Strength Sparks Short Covering

March NY world sugar #11 (SBH26) today is up +0.12 (+0.85%), and December London ICE white sugar #5 (SWZ25) is up +1.50 (+0.36%).

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

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