March NY world sugar #11 (SBH25) today is up +0.16 (+0.73%), and December London ICE white sugar #5 (SWZ24) is up +3.40 (+0.60%).
Sugar prices today recovered from early losses and are moderately higher. Short covering emerged in sugar futures today after Meteorologist Climatempo reduced the chances for rainfall in Brazil's Center-South, the country's largest sugar-producing region, to scattered from full coverage. Sugar prices initially retreated today, with NY sugar falling to a 4-week low and London sugar posting a 1-week low on the outlook for heavy rain in Brazil's Center-South region over the next week.
