Commodities
Sugar Set for Biggest Weekly Gain Since January on Brazil Fires
- Futures advance about 7% this week on output concerns
- Export restrictions in India put focus on top producer Brazil
Destroyed crops at a sugarcane farm following wildfires in Brazil on Aug. 27.
Photographer: Victor Moriyama/BloombergThis article is for subscribers only.
Raw sugar headed for its biggest weekly jump since January as dry conditions and fires in top producer Brazil fuel production concerns.
Futures traded in New York are poised for a gain of about 7% this week after fires in Brazil threatened cane in the country. StoneX estimated that the blazes could reduce Brazil’s sugar output by 340,000 metric tons, while Czarnikow had a similar initial assessment of 365,000 tons.