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Rich Asplund

Improvement in Indian Monsoon Rains Hammers Sugar Prices

India ISO London USDA Brazil Deficit Ethanol FAs NY

October NY world sugar #11 (SBV26) today is down -0.36 (-2.42%), and October London ICE white sugar #5 (SWV26) is down -6.40 (-1.39%).

Sugar prices extended this week’s sharp losses today and fell to 2.5-week lows. An improvement in India’s monsoon rains is weighing on sugar prices. India’s Meteorological Department reported on Wednesday that India’s cumulative monsoon rainfall was 23% below normal as of July 15, a substantial improvement from 42% below normal on June 30.

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