Yesterday’s closing dated –15/02/2024
◾London White Sugar – 630.60s (-14.00)
◾NYBOT Raw Sugar #11 – 22.82s (-0.55)
◾USD/BRL- 4.9737 (+0.0005)
◾USD/INR – 83.046 (+0.008)
◾Brent Crude – 82.86 (+1.26)
◾BSE Sensex – 72050.38 (+227.55)
◾NIFTY50 – 21910.75 (+70.70)
March NY world sugar #11 (SBH24) on Thursday closed down -0.55 (-2.35%), and May London ICE white sugar #5 (SWK24) closed down -14.00 (-2.17%).
Sugar prices on Thursday tumbled to 4-week lows and closed sharply lower. A sharp increase in Brazil’s sugar production is undercutting prices. Also, forecasted rain for Brazil’s Center-South, the country’s main sugar-growing region, should support sugar yields and is bearish for prices.
