March NY world sugar #11 (SBH25) Tuesday closed down -0.01 (-0.05%), and December London ICE white sugar #5 (SWZ24) closed down -8.80 (-1.59%).
Sugar prices Tuesday settled lower, with London sugar posting a 1-3/4 month low. Tuesday's rally in the dollar index (DXY00) to a 4-1/4 month high weighed on sugar prices. However, on Tuesday, short covering emerged in sugar futures to help prices recover from their worst levels when Unica reported sugar output in Brazil's Center-South region during the second half of October fell -24.3% y/y to 1.785 MMT. Conversely, the cumulative 2024/25 Center-South sugar output through October rose +0.3% y/y to 37 MMT.
