date:Nov 11, 2015
gar for export, a decline in the real tends to prompt producers to boost output, pushing prices down.
Some macro hedge funds, which place trades based on macroeconomic trends, seized on the situation and began selling sugar as a cheaper way to bet against the real, which is expensive to borrow with Brazilian interest rates near 15%, brokers said.
Financial speculators set a record in bearish bets against the market in March, CFTC data show.
The Brazilian currency has since recouped some losse