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Rich Asplund

Sugar Prices Retreat on Rain Forecasts for Brazil

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

March NY world sugar #11 (SBH25) today is down -0.38 (-1.65%), and December London ICE white sugar #5 (SWZ24) is down -10.60 (-1.82%).

Sugar prices today gave up an early advance and turned lower on forecasts for beneficial rain in Brazil, which eased drought concerns and sparked long liquidation in sugar futures. The Commodity Weather Group’s six to ten-day forecast calls for widespread showers in Brazil.

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