Yesterday’s closing dated –18/04/2024
◾London White Sugar –568.90s (+9.60)
◾NYBOT Raw Sugar #11 – 19.59s (+0.27)
◾USD/BRL- 5.2421 (-0.0062)
◾USD/INR – 83.550 (-0.002)
◾Brent Crude – 87.11 (-0.18)
◾BSE Sensex – 72488.99 (-454.69)
◾NIFTY50 – 22995.85 (-152.05)
May NY world sugar #11 (SBK24) on Thursday closed up +0.27 (+1.40%), and Aug London ICE white sugar #5 (SWQ24) closed up +9.60 (+1.72%).
Sugar prices Thursday moved higher as short covering emerged in sugar futures when Conab cut its Brazil 2023/24 sugar production estimate by -2.6% to 45.7 MMT from a November estimate of 46.9 MMT. Conab’s Brazil sugar production estimate was reduced since Conab raised its Brazil 2023/24 ethanol production estimate to 29.7 bln liters from a November estimate of 28 billion liters.
