REPORTS

ECRUU-Weak macro, big CS Brazil crop push sugar prices down
The bearish macroenvironment, a weaker Real and lower crude prices contributed to pushing down sugar futures on March 15, market participants said. Wet weather in CS Brazil is also boosting 2023/24 crop prospects, with sugar production estimates nearing 38 million mt. Traders noted that the expectation for lower crops in Thailand, the EU and China should stop prices from falling much further, however.