Sugar: Further Downside Ahead Over Coming Quarters
Agribusiness / Global / Sat 17 Jun, 2017
Although the downside for sugar prices will be limited in the coming weeks, we are bearish from spot levels over a multi-quarter horizon. The global market will continue to loosen in the coming quarters, especially with the strong post-El Nino rebound in production in India and Thailand. We expect the Brazilian real to weaken in the coming months