March NY world sugar #11 (SBH27) is up +0.06 (+0.30%) today, and December London ICE white sugar #5 (SWZ26) is up +3.20 (+0.59%).
Sugar prices are moving higher today, supported by concern that the super El Niño weather pattern will disrupt global sugar production. Japan’s Meteorological Agency said today that surface temperatures in the tropical Pacific Ocean were 4 degrees Celsius above normal as of September, the highest on record since 1949. The agency predicts a 100% chance that the El Niño will persist through the Northern Hemisphere winter and last through Q1 of next year.
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