Futures in London and New York were higher Monday on what appeared to be fund buying. The rally comes after another month of record deliveries against futures contracts. The market was also able to rally on the forecasts for cold temperatures in Brazil, but temperatures are starting to moderate now with no reports of damage. The trade is also keeping a close eye on the value of the Real for ideas about marketing patterns of the mills. Ideas of increasing Sugar production around the world are keeping sellers in control and overall trends remain down. Production conditions have been better this year in Brazil, and a better harvest is anticipated in the next couple of months as the Sugarcane harvest moves to its peak.
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