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Rich Asplund

Sugar Continues Lower on Favorable Brazil Weather

Brazil India ISMA NY El Nino ISO London USDA

July NY world sugar #11 (SBN23) on Thursday closed down -0.95 (-3.67%), and Aug London white sugar #5 (SWQ23) closed down -19.50 (-2.81%).

Sugar prices Thursday closed sharply lower on warmer Brazilian weather forecasts that reduced the chances for damaging frost. Sugar prices saw continued carry-over pressure from Sunday's news that China's May sugar imports sank -87% y/y to 40,000 MT. China is the world's largest sugar importer.

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