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Barchart
Barchart
Rich Asplund

Sugar Prices Settle Higher on Brazilian Real Strength

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

May NY world sugar #11 (SBK25) Tuesday closed up +0.18 (+1.01%), and August London ICE white sugar #5 (SWQ25) closed up +6.90 (+1.38%).

Sugar prices on Tuesday recovered from early losses and pushed higher, with London sugar posting a 1-week high.  Short covering emerged in sugar futures Tuesday after the Brazilian real (^USDBRL) rallied to a 2-week high against the dollar.  The stronger real discourages export selling from Brazil's sugar producers.  

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