Rains hinder the final stretch of the sugarcane harvest in Brazil

The storms and constant rains that have hit many regions of Brazil for a few days have delayed the sugarcane harvest in the final stretch of the period before the off-season in the main producing region of Brazil: the Center-South. Yesterday, sugar prices closed higher on international exchanges, with the market on alert about a possible delay in the end of the season or even impeding the harvest in some farms. The rains also hinder the loading of sugar in some units and ports. On ICE Futures, from New York, Wednesday (30) saw a rise in all raw sugar screens. The maturity March/23 was contracted at 19.63 cents per pound, an increase of 10 points, or 0.5%, in comparison with the prices of the previous day. The May/23 screen also rose 10 points, trading at 18.56 cts/lb. The other contracts appreciated between 9 and 12 points. According to analysts polled by Reuters, the March ICE contract "found strong technical support at 19 cents after holding above that level in each of the last ...