ICE sugar steady after Tuesday’s rally
Published: 06/27/2018, 5:06:48 PM
ICE October raw sugar eased 0.02 cents, or 0.2%, to 12.43 cents per lb., according to Reuters.
Prices rallied in the prior session, boosted by data showing Brazilian mills produced more ethanol than expected, leaving less available cane for sugar.
Focus also remained on enduring dry weather in the top grower, which could curb sugar production in the current season and going forward.
"Dry weather conditions and aging cane are having an impact on ... yields, which will mean a reduction in cane supply moving forward," ING said in a market note.
ICE August white sugar fell US$0.10, or 0.03%, to US$349.90 a tonne.