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World awash with raw Sugar, El Nino threat in Brazil keeps bulls in charge

Posted on 27 March 2014

The world is awash with sugar as Brazil sugar is being offered at deep discounts for export and new harvest a few weeks away. However, positive trends continue in ICE Raw Sugar futures for May delivery which is up 1.18% at US$ 0.171 a pound on possible El Nino impacting sugar production in Brazil later this year.But markets have calmed down after rallying to a four-month high of $0.1846 a pound.
In the short run, however, raw sugar is being offered at 10 points below ICE futures which suggests abundant stocks worldwide, a Reuters report quoting trade sources said…………………………………Full Article: Source


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