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Rich Asplund

Weather Concerns in Brazil Push Sugar Prices Higher

Brazil Maxar Technologies El Nino India London USDA

Oct NY world sugar #11 (SBV23) on Wednesday closed +0.42 (+1.77%), and Oct London white sugar #5 (SWV23) closed +9.90 (+1.43%).

Sugar prices Wednesday moved higher as weather risks in Brazil sparked short covering in sugar futures. Forecaster Maxar Technologies said heavy rain is expected in Brazil's sugar-growing regions over the next ten days, which risks delaying Brazil's sugar harvest.

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