Raw Sugar Climbs to 4-Week High on Demand, Frost; Coffee Slips
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Sugar climbed to a four-week high in New York on speculation demand may be higher than forecast just as a frost may cut output in southern Brazil, the world’s top grower, and Argentina. Coffee slipped.
Brazilian raw sugar for immediate loading was last week offered for sale at the same price as the October futures on ICE Futures U.S., Brisbane, Australia-based researcher Green Pool Commodity Specialists Pty. said in a report e-mailed yesterday. That’s up from a discount of 0.1 cent a pound in the previous seven-day period. The amount of sugar awaiting loading at Brazil’s main ports rose 30 percent in the week ended July 24, according to shipping agency Williams Servicos Maritimos Ltda.