Yesterday’s closing dated – 07/06/2024
◾London White Sugar – 553.30s (-7.50)
◾NYBOT Raw Sugar #11 – 19.00s (-0.22)
◾USD/BRL- 5.3449 (+0.0888)
◾USD/INR – 83.480 (+0.014)
◾Brent Crude – 79.62 (-0.25)
◾BSE Sensex – 76,693.36 (+1,618.85)
◾NIFTY50 – 23,290.15 (+468.75)
July NY world sugar #11 (SBN24) Friday closed down -0.22 (-1.14%), and Aug London ICE white sugar #5 (SWQ24) closed down -7.50 (-1.34%).
Sugar prices Friday retreated from 3-week highs and settled with moderate losses. Long liquidation in sugar futures emerged Friday after the dollar index (DXY00) rallied to a 1-week high.
Risk premiums in sugar prices rose this week and pushed prices up to 3-week highs as increasingly volatile global weather, including in key sugar-producing countries such as Brazil, India, and Vietnam, boosted sugar prices.
