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SUGAR REPORT | 22.11.2021 | MARKET COMMENTARY | SEBAT GROUP

SUGAR REPORT | 22.11.2021 | MARKET COMMENTARY

Sugar prices on Friday closed moderately lower as a more than -3% slide in crude oil prices (CLZ21) to a 1-1/2 month low sparked long liquidation in sugar futures. Weak crude prices undercut ethanol prices and are bearish for sugar.

Sugar prices were also under pressure Friday on weakness in the Brazilian real (^USDBRL) which fell to a 2-week low against the dollar. A weaker real encourages export selling by Brazil's sugar producers.



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