Yesterday’s closing dated – 12/06/2024
◾London White Sugar – 554.80s (+8.30)
◾NYBOT Raw Sugar #11 – 19.10s (+0.31)
◾USD/BRL- 5.4022 (-0.0101)
◾USD/INR – 83.474 (-0.113)
◾Brent Crude – 82.60 (+0.68)
◾BSE Sensex – 76606.57 (+149.98)
◾NIFTY50 – 23322.95 (+58.10)
July NY world sugar #11 (SBN24) on Wednesday closed up +0.31 (+1.65%), and Aug London ICE white sugar #5 (SWQ24) closed up +8.30 (+1.52%).
Sugar prices Wednesday posted moderate gains and found support on strength in crude oil prices. Crude oil (CLN24) Wednesday rallied to a 1-1/2 week high, which benefits ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.
