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Rich Asplund

Sugar Prices Fall Sharply on Easing Supply Concerns

London Thailand NY India Brazil Unica USDA

July NY world sugar #11 (SBN24) on Monday closed down -0.67 (-3.47%), and Aug London ICE white sugar #5 (SWQ24) closed down -19.30 (-3.39%).

Sugar prices Monday sold off sharply, with NY sugar falling to a 1-1/2 year nearest-futures low and London sugar dropping to a 1-1/4 year low. Sugar prices fell on an easing of global sugar supply concerns and technical selling with Monday's new lows. Last Thursday, Datagro raised its 2024 Center-South sugar production estimate to 41.6 MMT from a March estimate of 40.45 MMT.

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