Brazilian mills sugar hedging smallest since 2013/14
Brazilian mills have hedged 6,24 million tonnes of sugar through New York futures by November 30, or around 23% of expected exports in the 2018/19 season.
Sao Paulo-based Archer Consulting said on Monday, Reuters reports.
That hedging volume is the smallest since the 2013/14 season, Archer said, as mills refrain from fixing prices at the exchange waiting for possibly better values ahead. At this time last year, mills had hedged 35% of exportable sugar, according to the consultancy.