Yesterday’s closing dated –01/02/2024
◾London White Sugar – 602.60s (-12.50)
◾NYBOT Raw Sugar #11 – 21.09s (-0.60)
◾USD/BRL- 4.9545 (-0.0171)
◾USD/INR – 82.881 (-0.029)
◾Brent Crude – 83.46 (+1.55)
◾BSE Sensex – 73745.35 (+1245.0)
◾NIFTY50 – 22338.75 (+355.95)
May NY world sugar #11 (SBK24) on Friday closed down -0.60 (-2.77%), and May London ICE white sugar #5 (SWK24) closed down -12.50 (-2.03%).
Sugar prices Friday retreated for a second day and posted 2-month lows. A large delivery to settle the March NY sugar contract, which expired Thursday, undercut prices with a delivery of 1.3 MMT, the second-largest delivery ever for a March contract. A large delivery is typically bearish for prices as it signals difficulty finding demand.
