Yesterday’s closing dated – 13/05/2024
◾London White Sugar – 550.00s -(19.30)
◾NYBOT Raw Sugar #11 – 18.63s (-0.67)
◾USD/BRL- 5.1572 (+0.0062)
◾USD/INR – 83.493 (-0.054)
◾Brent Crude – 83.36 (+0.57)
◾BSE Sensex – 72,776.13 (+111.66)
◾NIFTY50 – 22,104.05 (+48.85)
July NY world sugar #11 (SBN24) on Monday closed down -0.67 (-3.47%), and Aug London ICE white sugar #5 (SWQ24) closed down -19.30 (-3.39%).
Sugar prices Monday sold off sharply, with NY sugar falling to a 1-1/2 year nearest-futures low and London sugar dropping to a 1-1/4 year low. Sugar prices fell on an easing of global sugar supply concerns and technical selling with Monday’s new lows. Last Thursday, Datagro raised its 2024 Center-South sugar production estimate to 41.6 MMT from a March estimate of 40.45 MMT.
