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Barchart
Barchart
Rich Asplund

Sugar Prices Sink on Brazilian Real Weakness

Brazil Green Pool Commodity Specialists India Thailand USDA

May NY world sugar #11 (SBK25) Thursday closed down -0.70 (-3.57%), and May London ICE white sugar #5 (SWK25) closed down -15.00 (-2.70%).

Sugar prices Thursday sold off to 1-1/2 week lows after the Brazilian real (^USDBRL) sank to a 3-week low against the dollar.  The weaker real encourages export selling by Brazil's sugar producers, prompting long liquidation in sugar futures.

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