
July NY world sugar #11 (SBN23) on Friday closed down -0.75 (-3.01%), and Aug London white sugar #5 (SWQ23) closed down -16.60 (-2.46%).
Sugar prices on Friday extended Thursday's sharp sell-off and fell to a 2-month low, generating technical selling pressure. Sugar prices fell sharply this week, mainly on warmer Brazilian weather forecasts that reduced the chances for damaging frost. Sugar prices also 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.