October NY world sugar #11 (SBV24) on Monday closed up +0.65 (+3.53%). Oct London ICE white sugar #5 (SWV24) did not trade Monday, with markets in the UK closed for a bank holiday.
NY sugar today jumped to a 3-week high as massive fires caused by drought and excessive heat damaged some sugar crops in Brazil's top sugar-producing state of Sao Paulo. Sugar cane industry group Orplana said there were as many as 2,000 fire outbreaks over the past weekend that affected as much as 60,000 hectares of planted sugarcane in Sao Paulo. Green Pool Commodity Specialists said that as much as 5 MMT of sugar cane may have been lost due to the fires.
