Sugar prices fall as Brazilian production forecast improves; other commodities mixed
By APTuesday, March 23, 2010
Sugar prices fall as production forecast improves
DENVER — Sugar prices are falling after reports indicate Brazil is harvesting a plentiful crop that could boost global supplies.
Tuesday’s decline is the latest setback for sugar futures, which have retreated about 43 percent since it hitting a 29-year high in early February.
Analysts say the reversal is occurring as traders pull out of the market because of growing expectations that global supplies will improve on higher production.
Other commodities were mixed as the dollar rose against most other major currencies. Gold and most energy prices rose while grains fell.
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