Rise in sugar futures fails to deter strong buying of Brazilian sugar

摘要

Physical buying in Brazil's sugar market has remained steady despite a surge in raw sugar futures to three-year highs, according to traders. As a reflection of sustained demand abroad, export discounts for prompt delivery firmed to around 110/95 points (bid/offer) below the October contract in New York, from 120/130 points below in mid July 09, despite a jump in futures.