REPORTS

Barchart - Sugar prices settled higher on Thursday after a rally in the Brazilian real (^USDBRL) to a 2.25-month high against the dollar prompted short covering in sugar futures. The stronger real discourages export sales from Brazil's sugar producers.

An excessively long position in London ICE white sugar futures could exacerbate any price decline. Last Friday's weekly Commitment of Traders (COT) report showed funds boosted their white sugar net long positions by 4,544 to a record 48,203 (data from 2011).