Yesterday’s closing dated – 01/01/2025
◾London White Sugar #5 (SWH25) – 507.00s (+3.60)
◾NYBOT Raw Sugar #11 (SBH25) – 19.26s (+0.13)
◾USD/BRL- 6.3172 (+0.0935)
◾USD/INR – ₹ 85.787 (+0.282)
◾Corn (ZCH25) – 458-4s (+6-2)
◾Ethanol Chicago $/gal –1.67750s +0.01500
◾Brent Crude – $74.64/bbl (+0.65)
◾BSE Sensex – 78507.41 (+368.40)
◾NIFTY50 – 23742.90 (+98.10)
March NY world sugar #11 (SBH25) Tuesday closed up +0.13, and March London ICE white sugar #5 (SWH25) closed up +3.60.
Sugar prices Tuesday recovered from early losses and are settled moderately higher. Tuesday’s rally in WTI crude oil (CLG25) to an 8-week high sparked short covering in sugar futures. Strength in crude benefits ethanol prices, which may spur global sugar mills to divert more cane crushing to ethanol production rather than sugar, thus curbing sugar supplies.
