Yesterday’s closing dated –08/02/2024
◾London White Sugar – 597.50s (-6.60)
◾NYBOT Raw Sugar #11 – 21.15s (-0.13)
◾USD/BRL- 4.9809 (+0.0459)
◾USD/INR – 82.754 (+0.031)
◾Brent Crude – 82.05 (-0.91)
◾BSE Sensex – 74119.39 (+33.40)
◾NIFTY50 – 22493.55 (+19.50)
Sugar prices on Friday posted moderate losses on forecasts for rain in Brazil. On Friday, forecaster Maxar Technologies said that moderate rain is expected in Brazil’s sugar-growing regions over the next five days, which fueled long liquidation in sugar futures. Also, weakness in the Brazilian real (^USDBRL) weighed on sugar after the real on Friday fell to a 1-week low against the dollar. The weaker real encourages export selling from Brazil’s sugar producers.
