Raw sugar futures were little changed after failing to respond to data from the Brazilian Unica for cane industry, showing a decline of 18 million tons in the first half of December compared with 18.74 million tons in the second half of November.
Brokers and traders predicted some interference in the rush of cane in the center-south Brazil by precipitation.
Analysts from the bureau sugar Marex Spectrum said they expect raw sugar futures to move in a range between 14 and 15.50 cents per pound for the March contract, the most actively traded.
Higher prices could encourage Brazilian farmers to increase sugar production, to encourage exports from India, the second largest sugar producer in the world, as well as to reduce imports from China by adding excess sugar market, which will lead again a decline in prices.
E.Dimitrov JrTrader
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