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Barchart
Barchart
Rich Asplund

Sugar Prices Finish Higher on Mild Short Covering

India USDA Ethanol NY ISO Brazil Deficit FAs

July NY world sugar #11 (SBN26) on Tuesday closed up +0.07 (+0.52%), and Aug London ICE white sugar #5 (SWQ26) closed up +0.70 (+0.16%).

Sugar prices settled higher on Tuesday amid 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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