
May NY world sugar #11 (SBK24) this morning is up +0.08 (+0.37%), and May London ICE white sugar #5 (SWK24) is up +6.00 (+0.97%).
Sugar prices this morning rebounded from 1-week lows and are moderately higher as strength in the Brazilian real sparked short covering in sugar futures. The real (^USDBRL) today is up +0.50%, recovering modestly from Tuesday's 4-1/2 month low against the dollar. The stronger real discourages export selling from Brazil's sugar producers.