Yesterday’s closing dated – 15/11/2024
◾London White Sugar #5 (SWH25) – 555.00s (-1.80)
◾NYBOT Raw Sugar #11 (SBH25) – 21.58s (+0.02)
◾USD/BRL-5.7947 (+0.0057)
◾USD/INR – ₹ 84.424 (-0.047)
◾Corn (ZCZ24) – c/lb 424-0s +5-0
◾Ethanol Chicago $/gal – 1.64250s (+0.02750)
◾Brent Crude – $71.04/bbl (-1.52)
◾BSE Sensex – 77,580.31 (-110.64)
◾NIFTY50 –23,532.70 (-26.35)
March NY world sugar #11 (SBH25) Friday closed up +0.02 (+0.09%), and March London ICE white sugar #5 (SWH25) closed down -1.80 (-0.32%).
Sugar prices Friday gave up an early advance and settled mixed. Friday’s -2% slump in crude prices (CLZ24) to a 2-week low sparked long liquidation in sugar futures. Weak crude prices undercut ethanol prices, which could prompt the world’s sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.
