Yesterday’s closing dated –28/03/2024
◾London White Sugar – 652.50s (+6.90)
◾NYBOT Raw Sugar #11 – 22.52s (+0.33)
◾USD/BRL- 5.0154 (+0.0025)
◾USD/INR – 83.4000 (+0.0275)
◾Brent Crude – 86.99 (+0.04)
◾BSE Sensex – 73,635.48 (+639.16)
◾NIFTY50 – 22,326.90 (+203.25)
Sugar prices on Thursday posted moderate gains, with NY sugar rising to a 1-month high and London sugar climbing to a 1-1/2-month high. Thursday’s rally in crude prices (CLK24) to a 1-week high was bullish for sugar. Strength in crude prices benefits ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production than sugar, thus curbing sugar supplies.
