Yesterday’s closing dated – 10/07/2024
◾London White Sugar (SWQ24) – 557.80s (+4.10)
◾NYBOT Raw Sugar #11 (SBV24) – 19.81s (+0.19)
◾USD/BRL- 5.4161 (+0.0017)
◾USD/INR – 83.516 (+0.020)
◾Brent Crude – 85.08 (+0.42)
◾BSE Sensex – 79924.77 (-426.87)
◾NIFTY50 – 24324.45 (-108.75)
October NY world sugar #11 (SBV24) on Wednesday closed up +0.19 (+0.97%), and Aug London ICE white sugar #5 (SWQ24) closed up +4.10 (+0.74%).
Sugar prices recovered from early losses on Wednesday and settled moderately higher. Short covering emerged in sugar futures Wednesday after the Brazilian real (^USDBRL) climbed to a 3-1/2 week high against the dollar. The stronger real discourages export selling from Brazil’s sugar producers.
