Sugar Slumps to 6-Year Low as Weak Brazil Real Adds to Glut Woes

There’s nothing sweet in the sugar market for bulls these days.

Prices tumbled to a six-year low on Wednesday as Brazil, the world’s biggest producer and exporter, saw the real extend a slump against the dollar. The commodity is heading for the third monthly loss since January, crumbling under the pressure of the weaker South American currency that’s cutting costs for growers and adding to concern the global glut will keep expanding.