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Barchart
Barchart
Rich Asplund

NY Sugar Prices Consolidate Above a 5.5-Year Low

May NY world sugar #11 (SBK26) on Tuesday closed down -0.04 (-0.30%), and Aug London ICE white sugar #5 (SWQ26) closed up +4.40 (+1.05%).

Sugar prices settled mixed on Tuesday, with London sugar posting a 1-week high.   Sugar prices have been under pressure for the past three weeks, with NY sugar falling to a 5.5-year low in the nearest futures contract last Friday amid expectations of abundant global supplies and tepid demand.  Last Wednesday's expiration of the May London sugar contract saw 472,650 MT of deliveries to settle the contract, the most for a May contract in 14 years, a sign of tepid sugar demand.    

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