Yesterday’s closing dated –08/11/2023
◾London White Sugar – 749.00s (-3.40)
◾NYBOT Raw Sugar #11 – 27.21s (-0.38)
◾USD/BRL- 4.9108 (+0.0005)
◾USD/INR – 83.2725 (+0.0150)
◾Brent Crude – 79.54 (-2.07)
◾BSE Sensex – 64975.61 (+33.21)
◾NIFTY50 – 19443.50 (+36.80)
Sugar prices Wednesday closed moderately lower and were under pressure from a slump in crude oil prices. On Wednesday, WTI crude (CLZ23) fell more than -2% to a 3-1/2 month low, which undercuts ethanol prices and may prompt global sugar mills to divert more cane crushing toward sugar production than ethanol, thus boosting sugar supplies.
