Oct NY world sugar #11 (SBV23) on Tuesday closed -0.28 (-1.16%), and Oct London white sugar #5 (SWV23) closed -3.20 (-0.46%).
Sugar prices Tuesday retreated for a second day on weakness in the Brazilian real. On Tuesday, the real (^USDBRL) tumbled to a 2-1/4 month low against the dollar, encouraging export selling from Brazil's sugar producers. Also, crude prices (CLU3) Tuesday fell by more than -2%, which undercuts ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.
