Yesterday’s closing dated – 12/07/2024
◾London White Sugar (SWQ24) – 547.60s (-5.80)
◾NYBOT Raw Sugar #11 (SBV24) – 19.20s (-0.23)
◾USD/BRL- 5.4295 (-0.0086)
◾USD/INR – 83.519 (+0.011)
◾Brent Crude – 85.27 (-0.13)
◾BSE Sensex – 80,519.34 (+622.00)
◾NIFTY50 – 24,502.15 (+186.20)
October NY world sugar #11 (SBV24) Friday closed down -0.23 (-1.18%), and Aug London ICE white sugar #5 (SWQ24) closed down -5.80 (-1.05%).
Sugar prices Friday extended this week’s decline, with NY sugar dropping to a 2-1/2 week low. Robust sugar output in Brazil is bearish for prices after Unica reported Thursday that Brazil’s sugar production for the 2024/25 crop year through June was up +15.7% y/y at 14.2 MMT. Also, the percentage of Brazil’s 2024/25 sugar cane crop crushed for sugar rose to 48.72% from 47.69% last year.
