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Rich Asplund

Sugar Recovers Early Losses on Reports India Will Ban Sugar Exports

India Brazil El Nino London USDA

Oct NY world sugar #11 (SBV23) on Wednesday closed up +0.45 (+1.92%), and Oct London white sugar #5 (SWV23) closed +12.10 (+1.78%).

Sugar prices Wednesday recovered from early losses and posted moderate gains on news that India will ban sugar exports. Also, strength in the Brazilian real was bullish for sugar prices after the real (^USDBRL) Wednesday rose to a 1-1/2 week high against the dollar, discouraging export selling from Brazil's sugar producers.

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