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Barchart
Barchart
Rich Asplund

Sugar Settles Slightly Higher as Dollar Weakness Spur Short Covering

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

March NY world sugar #11 (SBH25) Friday closed up +0.02 (+0.09%), and December London ICE white sugar #5 (SWZ24) closed up +0.90 (+0.16%).

Sugar prices posted modest gains on Friday, as a weaker dollar (DXY00) spurred short covering in sugar futures.  On Thursday, NY sugar fell to a 4-week low, and London sugar slid to a 1-week low on forecasts for rain in Brazil.   Meteorologist Climatempo said abundant rains are expected for Brazil's Center-South over the next week, boosting soil moisture levels and increasing sugarcane yields.  The Center-South is Brazil's largest sugar-producing region.  

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