Sugar Joins Agriculture Rally
Sugar is currently demonstrating its fastest daily rally since June 27. While there is no critical danger for sugar production that can be compared to the drought affecting the growth of grains in North America, the commodity is gaining as more investors become bullish on the agricultural sector overall.
Heavy rainfalls in Brazil, which is the world’s biggest sugar producer and exporter, threaten the size and quality of crops there since June. Although this factor can be considered as
The other big sugar producer, India, which is holding world’s number 2 spot for the commodity output and number 3 as an exporter (following Brazil and Thailand), is experiencing a certain lack of precipitation in the
Sugar rose from $0.232 to $0.2395 per pound as of 18:11 GMT on ICE today, demonstrating fourth strongly bullish week in a row. It has also reached its highest level since April 13 earlier today.
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