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Barchart
Barchart
Rich Asplund

Persistent Global Surpluses Sink Sugar Prices

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May NY world sugar #11 (SBK26) on Wednesday closed down -0.37 (-2.67%), and May London ICE white sugar #5 (SWK26) closed down -4.70 (-1.11%).

Sugar prices gave up an early advance on Wednesday and sold off sharply, with NY sugar sinking to a 5.5-year nearest-futures low.  Sugar prices have been under pressure for the past two weeks amid expectations of abundant global supplies.  

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