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Barchart
Barchart
Rich Asplund

Abundant Global Supplies Weigh on Sugar Prices

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March NY world sugar #11 (SBH26) on Monday closed down -0.01 (-0.07%), and March London ICE white sugar #5 (SWH26) closed up +0.10 (+0.02%).

Sugar prices extended their week-long plunge on Monday, with NY sugar falling to a 2.5-month low and London sugar dropping to a 5-year low.   However, oversold conditions in sugar futures prompted some technical short covering, lifting sugar prices off their lows on Monday, with London sugar climbing into positive territory.

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