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Barchart
Barchart
Rich Asplund

Sugar Prices Consolidate Above a 15-Month Low

Conab India Thailand Brazil Ethanol London NY the Indian Sugar and Bioenergy Manufacturers Association USDA

May NY world sugar #11 (SBK24) this morning is up +0.04 (+0.20%), and Aug London ICE white sugar #5 (SWQ24) is down -4.70 (-0.83%).

Sugar prices this morning are mixed as they consolidate above this week's significant lows.  Sugar prices have some carryover support from 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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