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Barchart
Barchart
Rich Asplund

Sugar Prices Slip as Dry Conditions in Brazil Benefit the Sugar Harvest

Brazil India ISMA London

July NY world sugar #11 (SBN23) on Thursday closed down -0.30 (-1.16%), and Aug London white sugar #5 (SWQ23) closed down -5.10 (-0.72%).

Sugar prices Thursday fell to 2-week lows and closed moderately lower.   Forecasts for dry conditions in Brazil that will speed up the pace of the sugar harvest sparked long liquidation in sugar futures.  Rural Clima Meteorlogia said little rain is expected in Brazil through the end of the month.  Also, a rally in the dollar index (DXY00) Thursday to a 1-3/4 month high undercut sugar prices.

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