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Barchart
Barchart
Rich Asplund

Sugar Prices Rebound on Strength in the Brazilian Real

Brazil India London USDA ISMA NY Thailand

July NY world sugar #11 (SBN25) Monday closed up +0.39 (+2.42%), and August London ICE white sugar #5 (SWQ25) closed up +14.50 (+3.12%).

Sugar prices on Monday recovered from early losses and rallied sharply, with London sugar posting a 2-week high as strength in the Brazilian real sparked some short-covering in sugar futures.  The real (^USDBRL) rallied to an 8-1/4 month high against the dollar Monday, discouraging export sales from Brazil's sugar producers.

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