Sugar in NY retreats after sharp rise at the beginning of the week

The New York sugar market recorded a correction this Tuesday (07), after a strong appreciation at the beginning of the week. According to StoneX, the SBH26 raw sugar contract closed the session at US¢ 16.63/lb, a drop of 18 points (-1.1%) compared to the previous trading session. The March/26 opened with a firm retraction, testing the intraday low of US¢ 16.39/lb early in the Brazilian morning, operating sideways throughout the day and with partial recovery in the last hours, without managing to reverse the fall. Among the factors sustaining the selling pressure, the appreciation of the dollar in the international scenario stands out, which increases risk aversion and influences assets considered riskier. The Dollar Index advanced 0.53% and the real/dollar pair rose about 0.8%, quoted close to R$ 5.35, amid fears about the conduct of fiscal policy in Brazil. According to StoneX, "the real weakened this Tuesday, following the global movement of dollar appreciation, driven by the ...