Sugar Prices Decline on Concern Brazil Could Boost Sugar Output

July NY world sugar #11 fell 0.27 cents (-1.82%) and August London ICE white sugar dropped 5.30 points (-1.21%) as prices extended Wednesday's sharp selloff to 1-week lows. The move appears tied to weakness in gasoline prices, which have fallen more than 8%, pressuring sugar-linked market sentiment.

Analysis

July NY world sugar #11 fell 0.27 cents (-1.82%) and August London ICE white sugar dropped 5.30 points (-1.21%) as prices extended Wednesday's sharp selloff to 1-week lows. The move appears tied to weakness in gasoline prices, which have fallen more than 8%, pressuring sugar-linked market sentiment.