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Barchart
Barchart
Rich Asplund

Sugar Prices Climb on Weather Threats to Global Output

India International Sugar Organization Brazil Deficit NY Foreign Agricultural Service Thailand USDA London Covrig Analytics

March NY world sugar #11 (SBH27) closed up +0.29 (+1.39%) on Thursday, and December London ICE white sugar #5 (SWZ26) closed up +6.20 (+1.12%).

Sugar prices moved higher on Thursday and are just below recent significant highs. Sugar prices have rallied sharply over the past three weeks, with NY sugar posting a 19-month nearest-futures high on Wednesday and London sugar a 22-month high last Wednesday as ongoing rains in Brazil’s Center-South sugar-growing region slowed harvesting and disrupted cane crushing at Brazil’s sugar mills, curbing supplies.

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