News International Sugar Journal

Sugar futures surge on mounting Brazilian crop concerns [Registered]

The upward move of raw sugar futures in New York took up steam again after a few sessions of muted dealings as mounting concerns over production prospects for Brazil’s key Centre/South production region fuelled speculative activity. The market digested a forecast by local consultancy Canaplan which sees the current crop significantly below downwardly revised projection by industry association UNICA made in late July. The sweetener was therefore able to buck a generally weak trend in soft commodities as the benchmark October contract settled up 93 points at 29.85 cents/lb, in dealings from 28.82 and 30.40 cents. October added 68 points…

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