Sugar Posts Longest Rally in Five Months on Brazil Heat
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Sugar futures posted the longest rally in almost five months as drought threatened crop yields in Brazil, the world’s top producer and shipper, while India postponed a plan to boost exports.
Dry weather in the next 10 to 15 days in Brazil will exacerbate drought conditions, MDA Weather Services in Gaithersburg, Maryland, said on Feb. 3. India’s cabinet deferred a decision on a subsidy expected to help mills export raw sugar. Futures rose to a one-month high yesterday.