Yesterday’s closing dated – 21/11/2024
◾London White Sugar #5 (SWH25) – 553.80s (-5.50)
◾NYBOT Raw Sugar #11 (SBH25) – 21.38s (-0.27)
◾USD/BRL- 5.8142 (-0.0002)
◾USD/INR – ₹ 84.463 (+0.108)
◾Corn (ZCZ24) – c/lb 427-6 +1-0
◾Ethanol Chicago $/gal – 1.60500s (-0.03000)
◾Brent Crude – $74.23 /bbl (+1.42)
◾BSE Sensex – 77155.79 (-422.59)
◾NIFTY50 – 23349.90 (-168.60)
March NY world sugar #11 (SBH25) Thursday closed down -0.27 (-1.25%), and March London ICE white sugar #5 (SWH25) closed down -5.50 (-0.98%).
Sugar prices Thursday moved lower after the International Sugar Organization (ISO) lowered its 2024/25 global sugar deficit forecast to -2.51 MMT from an August forecast of -3.58 MMT. The ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT. Losses in sugar accelerated Thursday after the Brazilian real (^USDBRL) fell to a 2-week low against the dollar, encouraging export selling by Brazil’s sugar producers.
