Yesterday’s closing dated –19/02/2024
◾London White Sugar – 632.10s (-6.20)
◾NYBOT Raw Sugar #11 – 23.08s (+0.26)
◾USD/BRL- 4.9569 (-0.0004)
◾USD/INR – 83.021 (+0.004)
◾Brent Crude – 83.56 (+0.09)
◾BSE Sensex – 72708.16 (+281.52)
◾NIFTY50 – 22122.250 (+81.55)
March NY world sugar #11 (SBH24) on Friday closed up +0.26 (+1.14%), and May London ICE white sugar #5 (SWK24) closed up +7.70 (+1.22%).
Sugar prices on Friday recovered from 4-week lows and closed moderately higher. Short covering emerged in sugar futures Friday after weather forecasts reduced the chance for rain in Brazil next week. Sugar prices Friday were initially under pressure and posted 4-week lows on negative carryover from Thursday on signs of a sharp increase in Brazil’s sugar production.
