July NY world sugar #11 is up 2.51% to +0.37, while Aug London ICE white sugar #5 is up 2.06% to +9.00. Prices are rising on Brazil's decision to announce new fuel subsidies to cushion gasoline and diesel costs linked to the Iran-related shock, a move that can support sugar by affecting the economics of Brazilian cane allocation toward ethanol versus sugar.
July NY world sugar #11 is up 2.51% to +0.37, while Aug London ICE white sugar #5 is up 2.06% to +9.00. Prices are rising on Brazil's decision to announce new fuel subsidies to cushion gasoline and diesel costs linked to the Iran-related shock, a move that can support sugar by affecting the economics of Brazilian cane allocation toward ethanol versus sugar.
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mildly positive
Sentiment Score
0.34
