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Barchart
Barchart
Rich Asplund

Sugar Prices Supported by Brazilian Real Strength and Lower Thailand Output

March NY world sugar #11 (SBH25) today is up +0.22 (+1.14%), and March London ICE white sugar #5 (SWH25) is up +11.30 (+2.214%).

Sugar prices are climbing today, with London sugar posting a 6-week high.  Over the past week, recent strength in the Brazilian real (^USDBRL) has fueled fund short covering in sugar futures.  Today, the real rallied to a 2-month high against the dollar, discouraging export sales from Brazil's sugar producers.

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