
October NY world sugar #11 (SBV24) today is up +0.70 (+3.81%). Oct London ICE white sugar #5 (SWV24) is not trading today, with markets in the UK closed for a bank holiday.
NY sugar today jumped to a 3-week high. Sugar prices have risen sharply since last Thursday when 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. Separately, in the 2024/25 marketing year through July, Brazil's Center-South sugar production was up by +8% y/y at 20.753 MMT, according to a Unica report on August 13.