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Barchart
Barchart
Rich Asplund

Sugar Prices Close Lower as Global Supply Concerns Ease

India ISM Thailand Brazil USDA

October NY world sugar #11 (SBV24) on Wednesday closed down -0.18  (-0.94%), and Oct London ICE white sugar #5 (SWV24) closed down -3.60 (-0.67%).

Sugar prices Wednesday fell back from 1-1/2 week highs and closed moderately lower as global supply concerns eased.  Above-normal monsoon rain in India, the world's second-largest sugar producer, may boost sugar yields and is bearish for sugar prices.  The Indian Meteorological Department reported Monday that India received 430.2 mm of rain during the current monsoon season as of July 28, up +3% from the comparable long-term average of 418.9 mm.  

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