March NY world sugar #11 (SBH25) Tuesday closed down -0.03 (-0.14%), and December London ICE white sugar #5 (SWZ24) closed up +0.40 (+0.07%).
Sugar prices on Tuesday settled mixed. Sugar has been under pressure recently, with NY sugar posting a 2-week low Monday and London sugar posting a 1-1/2 month low Tuesday on forecasts for beneficial rain in Brazil's Center-South that eases concerns over excessive dryness. Forecaster Climatempo said rain will continue in Brazil's Center-South region over the next few days. Brazil's Center-South is the country's main sugar-producing region. However, sugar prices recouped most of their losses Tuesday, with London sugar pushing into positive territory as short covering emerged in sugar futures when the dollar index (DXY00) fell to a 2-1/2 week low.
