date:Aug 10, 2015
Sugar Organization said that a potential sharp drop of Centre South [sugar] production in Brazil in the current 2015-16 crushing season due to a heavy focus on ethanol would usually provide some bullish arguments.
But this is currently overshadowed by the renewed weakening, if not to say collapse, of the Brazilian real.
If that were to continue world sugar futures may even fall to lower levels than the already depressed ones currently in place.
A weak real cuts the values, in dollar terms, of