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Barchart
Barchart
Rich Asplund

Sugar Mildly Higher on Reduced Production Estimates from Brazil

May NY world sugar #11 (SBK24) on Monday closed up +0.07 (+0.35%), and Aug London ICE white sugar #5 (SWQ24) closed up +6.90 (+1.22%).

Sugar prices on Monday closed mildly higher.  Sugar prices have some carryover support from last Thursday when Conab cut its Brazil 2023/24 sugar production estimate by -2.6% to 45.7 MMT from a November estimate of 46.9 MMT.  Conab's Brazil sugar production estimate was reduced since Conab raised its Brazil 2023/24 ethanol production estimate to 29.7 bln liters from a November estimate of 28 billion liters.

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