Yesterday’s closing dated – 03/10/2024
◾London White Sugar (SWZ24) – 584.00s (+10.00)
◾NYBOT Raw Sugar #11 (SBH25) – 23.24s (+0.56)
◾USD/BRL- 5.4779 (+0.0019)
◾USD/INR – 84.001 (+0.063)
◾Brent Crude – 77.62 (+3.72)
◾BSE Sensex – 82497.10 (-1769.19)
◾NIFTY50 – 25250.10 (-546.80)
March NY world sugar #11 (SBH25) Thursday closed up +0.56 (+2.47%), and December London ICE white sugar #5 (SWZ24) closed up +10.00 (+1.74%).
Sugar rallied on Thursday due to a jump in crude prices. Strength in crude oil benefits ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus reducing sugar supplies.
