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29.4.21 12:09_Sugar 11_LONG

Sugar 11 Long. Buy Stop. NY Sugar continues to grow after closing long positions yesterday, in response to stronger oil, the Brazilian real and fears of a disruption to supplies from Brazil, which has been suffering from excessive drought for so long. Rising black gold prices are in favor of ethanol prices and may encourage Brazilian sugar factories to divert more cane towards ethanol production than sugar production, thus reducing sugar supplies. The total precipitation in growing areas continues to lag far behind the long-term five-year average.


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