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Barchart
Barchart
Rich Asplund

Sugar Prices Finish Higher as Conab Cuts its Brazil Sugar Production Estimate

Conab Brazil India ISM Thailand ISO USDA

October NY world sugar #11 (SBV24) Thursday closed up +0.20 (+1.13%), and Oct London ICE white sugar #5 (SWV24) closed up +6.50 (+1.29%).

Sugar prices Thursday moved higher after Conab, Brazil's government crop forecasting agency, cut its 2024/25 Brazil Center South sugar production estimate to 42 MMT from a previous forecast of 42.7 MMT, citing lower sugarcane yields due to drought and excessive heat.  However, Unica reported last Tuesday that Brazil's Center-South sugar production in the 2024/25 marketing year through July was up by +8% y/y at 20.753 MMT.  

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