Fund Short Covering Lifts Sugar Prices on a Decline in Brazil’s Sugar Output

Sugar prices rose today for the second consecutive day, with July NY world sugar #11 (SBN25) increasing by +0.13 (+0.76%) and August London ICE white sugar #5 (SWQ25) going up by +4.00 (+0.84%). The price hike is attributed to fund short-covering and positive carryover from Thursday, driven by indications of reduced sugar output.