Yesterday’s closing dated – 25/07/2024
◾London White Sugar (SWV24) – 531.40s (+9.50)
◾NYBOT Raw Sugar #11 (SBV24) – 18.66s (+0.75)
◾USD/BRL- 5.6448 (+0.0006)
◾USD/INR – 83.782 (+0.034)
◾Brent Crude – 82.37 (+0.66)
◾BSE Sensex – 80039.80 (-109.08)
◾NIFTY50 – 24406.10 (-7.40)
October NY world sugar #11 (SBV24) on Thursday closed up +0.75 (+4.19%), and Oct London ICE white sugar #5 (SWV24) closed up +9.50 (+1.82%).
NY sugar prices on Thursday recovered somewhat on short-covering from Wednesday’s 1-1/4 year low. Sugar prices have plunged in the past month due to increased Brazilian sugar production, the prospects for improved rain in India and Thailand, and estimates for a 2024/25 global sugar surplus.
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