Yesterday’s closing dated –12/12/2023
◾London White Sugar – 639.70s (+2.00)
◾NYBOT Raw Sugar #11 – 22.59s (+0.12)
◾USD/BRL- 4.9636 (+0.0005)
◾USD/INR – 83.3875 (0.0050)
◾Brent Crude – 73.24 (-2.79)
◾BSE Sensex – 69,551.03 (-377.50)
◾NIFTY50 – 20,906.40 (-90.70)
NY sugar on Tuesday fell to a new 8-1/2 month low but then recovered on some short-covering to closed mildly higher. In a bearish factor, Unica on Tuesday said that Brazil’s Center-South sugar output rose +35% y/y in the second half of November and that sugar output in the 2023/24 crop year through November rose +23.5% y/y to 40.817 MMT. Meanwhile, Brazil exported 3.7 MMT of sugar in November, marking a new record for the month.
