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Barchart
Barchart
Rich Asplund

Expectations for Ample Monsoon Rains in India Sends Sugar Prices Tumbling

May NY world sugar #11 (SBK25) today is down -0.31 (-1.73%), and May London ICE white sugar #5 (SWK25) is down -16.30 (-3.09%).

Sugar prices today are falling, with NY sugar posting a 7-3/4 month nearest-futures low and London sugar posting a 2-3/4 month low.  The outlook for abundant rain in India that leads to a bumper sugar crop is undercutting sugar prices.  Today, India's Ministry of Earth Sciences expects an above-normal monsoon this year, with total rainfall forecast to be 105% of the long-term average.  India's monsoon season runs from June through September.  

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