October NY world sugar #11 (SBV24) on Monday closed down -0.01 (-0.06%), and Oct London ICE white sugar #5 (SWV24) closed down -3.00 (-0.58%).
Sugar prices Monday closed slightly lower as they consolidated above the recent significant lows. Sugar prices have been under pressure over the past six weeks, with NY sugar falling to a 1-3/4 year nearest-futures low on August 5 and London sugar dropping to a 2-1/3 year low. Signs of larger global supplies are undercutting sugar prices. Last Tuesday, Unica reported that Brazil's Center-South sugar production in the marketing year through July was up by +8% y/y at 20.753 MMT.
