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Barchart
Barchart
Rich Asplund

Stronger Brazilian Sugar Production Weighs on Sugar Prices

Brazil USDA India London NY Thailand Unica

October NY world sugar #11 (SBV25) on Wednesday closed down -0.08 (-0.50%), and October London ICE white sugar #5 (SWV25) closed down -1.50 (-0.32%).

Sugar prices on Wednesday settled lower but remained above Tuesday's 5-week lows.  Signs of stronger sugar production in Brazil are undercutting sugar prices.  Last Thursday, Unica reported Brazil's Center-South sugar output in the first half of July rose +15% y/y to 3.4 MMT.  Also, the amount of sugarcane being crushed for sugar by Brazil's sugar mills has increased to 54% from 50% the same time last year.

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