July NY world sugar #11 (SBN24) today is up +0.41 (+2.16%), and Aug London ICE white sugar #5 (SWQ24) is up +10.30 (+1.85%).
Sugar prices today are moderately higher, with NY sugar posting a 1-week high and London sugar posting a 6-week high. Sugar rallied today on the outlook for India to keep its sugar export restrictions in place after the Indian government said there is no proposal to review its sugar export restrictions. Below-normal monsoon rain in India is also bullish for sugar prices after the Indian Meteorological Department reported last Friday that India received 64.5 mm of rain over the first 18 days of June, compared with the long-term average of 80.6 mm.
