Brazil: Raw sugar crashes to 11-month low as Brazil’s real slides

Raw sugar prices on ICE tumbled on Tuesday to their lowest levels in 11 months, while arabica coffee prices also slipped, both markets dragged by a slide in the currency of top-grower Brazil. October raw sugar settled down 0.19 cent, or 1.7%, at 11.24 cents per lb, after sliding to 11.16 cents per pound, the lowest since Oct. 1. This was the contract’s sixth negative close in seven sessions. Prices were pressured as the Brazilian real slid to its lowest against the US dollar in nearly a year. Some traders cited comments from Brazil’s central bank president that the currency’s broader, recent weakness had been “well within” normal ranges.