March NY world sugar #11 (SBH25) Tuesday closed down -0.10 (-0.46%), and December London ICE white sugar #5 (SWZ24) closed down -1.90 (-0.34%).
Sugar prices Tuesday posted moderate losses for a second day, with NY sugar falling to a 1-month low. Forecasts for abundant rains in Brazil's Center-South over the next week are reducing drought concerns and are weighing on sugar prices. Meteorologist Climatempo on Monday said that more significant rains are expected in Brazil's Center-South from Friday onwards, which will keep temperatures milder and improve soil moisture levels. The Center-South is Brazil's largest sugar-producing region.
