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Barchart
Barchart
Rich Asplund

Sugar Prices Climb as the USDA Cuts its Thailand Sugar Production Outlook

USDA Thailand India Brazil El Nino London NY

March NY world sugar #11 (SBH24) on Thursday closed +0.23 (+0.89%), and Dec London white sugar #5 (SWZ23) closed +6.10 (+0.88%).

Sugar prices Thursday moved higher as concerns about smaller global sugar output sparked fund short covering in sugar futures.  The USDA's Foreign Agricultutral Service (FAS) projected 2023/24 Thailand sugar production at 9.4 MMT, down -15% y/y.  

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