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Barchart
Barchart
Rich Asplund

BIZARRE: Fund profit taking undercuts sugar prices - You Need To See This

March NY world sugar #11 (SBH27) closed down -0.68 (-3.26%) on Thursday, and December London ICE white sugar #5 (SWZ26) closed down -14.60 (-2.63%).

Sugar prices settled sharply lower on Thursday as fund profit-taking emerged following the recent two-week rally. On Wednesday, NY sugar climbed to a 19-month nearest-futures high and London sugar to a 22-month high as ongoing rains in Brazil’s Center-South sugar-growing region slowed harvesting and disrupted cane crushing at Brazil’s sugar mills, curbing supplies.

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