Yesterday’s closing dated – 16/07/2024
◾London White Sugar (SWV24) – 559.90s (-0.60)
◾NYBOT Raw Sugar #11 (SBV24) – 19.62s (-0.14)
◾USD/BRL- 5.4251 (-0.0034)
◾USD/INR – 83.577 (-0.009)
◾Brent Crude – 83.73 (-1.12)
◾BSE Sensex – 80716.55 (+51.69)
◾NIFTY50 – 24613.00 (+26.30)
October NY world sugar #11 (SBV24) on Tuesday closed down -0.14 (-0.71%), and Oct London ICE white sugar #5 (SWV24) closed down -0.60 (-0.11%).
Sugar prices posted moderate losses on Tuesday, weighed down by weakness in crude prices. Aug WTI crude (CLQ24) fell to a 3-week low Tuesday, which undercut ethanol prices and may prompt global sugar mills to divert more cane crushing to sugar production rather than ethanol, thus boosting sugar supplies.
