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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat as the Dollar Soars

India London Brazil Thailand the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) Wednesday closed down -0.18 (-0.84%), and December London ICE white sugar #5 (SWZ24) closed down -4.80 (-0.88%).

Sugar prices Wednesday added to this week's losses and dropped to 1-3/4 month lows.  Wednesday's rally in the dollar index (DXY00) to a 1-year high undercut sugar prices.  Losses in London sugar accelerated Wednesday after the contract fell below its 200-day moving average, triggering technical selling.

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