Yesterday’s closing dated –26/10/2023
◾London White Sugar – 734.20s (-12.40)
◾NYBOT Raw Sugar #11 – 27.04s (-0.59)
◾USD/BRL-4.9868 (0.0000)
◾USD/INR – 83.23 (+0.0500)
◾Brent Crude – 87.93 (+2.20)
◾BSE Sensex – 63,148.15 (-900.91)
◾NIFTY50 – 18,857.25 (-264.90)
Sugar prices Thursday fell back on bearish carry-over from Wednesday’s news when Unica reported that Brazil Center-South sugar output in the first half of October rose +22% y/y to 2.247 MMT and that sugar output in the 2023/24 crop year through mid-October rose +23.6% y/y to 34.862 MMT. Also, 49.44% of the crushed sugarcane was used for sugar production this year, an increase from 45.63% last year.
