Yesterday’s closing dated – 04/09/2024
◾London White Sugar (SWV24) – 539.10s (-2.70)
◾NYBOT Raw Sugar #11 (SBV24) – 19.24s (-0.25)
◾USD/BRL- 5.6399 (0.0000)
◾USD/INR – 83.982 (+0.029)
◾Brent Crude – 72.70 (-1.05)
◾BSE Sensex – 82352.64 (-202.80)
◾NIFTY50 – 25198.70 (-81.15)
October NY world sugar #11 (SBV24) Wednesday closed down -0.25 (-1.28%), and Oct London ICE white sugar #5 (SWV24) closed down -2.70 (-0.50%).
Sugar prices posted moderate losses on Wednesday due to weakness in crude prices. Crude oil (CLV24) fell to an 8-3/4 month low Wednesday, which undercut ethanol prices and may prompt the world’s sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.
