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Barchart
Barchart
Rich Asplund

Sugar Prices Consolidate Recent Losses

India USDA Ethanol NY Brazil Deficit FAs ISO London

July NY world sugar #11 (SBN26) today is up +0.09 (+0.67%), and Aug London ICE white sugar #5 (SWQ26) is up +0.90 (+0.20%).

Sugar prices are moving higher today on some mild short covering as prices consolidate recent losses. On Monday, NY sugar fell to a 2-month low as the reopening of the Strait of Hormuz eased global supply disruptions. The reopening of the strait should also reduce global shipping rates, insurance costs, and fuel prices, thereby lowering sugar importers’ costs.

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