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Barchart
Barchart
Rich Asplund

Sugar Prices Undercut by Weakness in the Brazilian Real

Brazil India London NY Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization USDA

March NY world sugar #11 (SBH25) today is down -0.09 (-0.43%), and March London ICE white sugar #5 (SWH25) is down -0.90 (-0.16%).

Sugar prices today extended their 2-week long slide, with NY sugar posting a 2-1/2 month low and London sugar posting a 3-week low.  Weakness in the Brazilian real (^USDBRL) is hammering sugar prices.  The real is down -1.74% today, just above last Friday's record low against the dollar.  The weaker real encourages export selling by Brazil's sugar producers.

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