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Barchart

Rich Asplund

Sugar Prices Slip on Fund Profit-Taking

India Brazil Deficit NY Thailand USDA London Covrig Analytics ISMA ISO

March NY world sugar #11 (SBH27) is down -0.53 (-2.54%) today, and December London ICE white sugar #5 (SWZ26) is down -11.50 (-2.07%).

Sugar prices are sliding today as funds take profits after a sharp two-week rally. On Wednesday, NY sugar climbed to a 19-month nearest-futures high and London sugar to a 22-month high as ongoing rains in Brazil’s Center-South sugar-growing region slowed harvesting and disrupted cane crushing at Brazil’s sugar mills, curbing supplies.

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