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Barchart
Barchart
Rich Asplund

Sugar Prices Slip on Forecasts for Rain in Brazil

Brazil India Maxar Technologies Thailand El Nino ISMA USDA

May NY world sugar #11 (SBK24) on Friday closed down -0.13 (-0.61%), and May London ICE white sugar #5 (SWK24) closed down -6.60 (-1.09%).

Sugar prices on Friday posted moderate losses on forecasts for rain in Brazil.  On Friday, forecaster Maxar Technologies said that moderate rain is expected in Brazil's sugar-growing regions over the next five days, which fueled long liquidation in sugar futures.   Also, weakness in the Brazilian real (^USDBRL) weighed on sugar after the real on Friday fell to a 1-week low against the dollar.  The weaker real encourages export selling from Brazil's sugar producers.

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