Yesterday’s closing dated –10/01/2024
◾London White Sugar – 613.10s (-9.50)
◾NYBOT Raw Sugar #11 – 21.41s (-0.29)
◾USD/BRL- 4.8930 (+0.0021)
◾USD/INR – 83.0350 (-0.0800)
◾Brent Crude – 76.80 (-0.79)
◾BSE Sensex – 71657.71 (+271.50)
◾NIFTY50 – 21618.70 (+73.85)
March NY world sugar #11 (SBH24) closed down -0.29 (-1.34%) on Wednesday, and March London ICE white sugar #5 (SWH24) closed down -9.50 (-1.53%).
Sugar prices on Wednesday posted moderate losses. Weakness in crude prices weighs on sugar as WTI crude oil (CLG24) fell more than -1% on Wednesday. Lower crude prices undercut ethanol prices and may prompt the world’s sugar mills to divert more cane crushing toward sugar production than ethanol, thus boosting sugar supplies.
