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Barchart
Barchart
Rich Asplund

Sugar Prices Jump on Signs of Stronger Global Demand

October NY world sugar #11 (SBV25) on Wednesday closed up +0.43 (+2.67%), and August London ICE white sugar #5 (SWQ25) closed up +16.70 (+3.51%).

Sugar prices settled sharply higher on Wednesday, with NY sugar climbing to a 1-week high and London sugar jumping to a 1.5-month high.  Concerns that global sugar supplies may tighten sparked short covering in sugar futures Wednesday after Pakistan said it will import 500,000 MT of sugar and the Philippines said it will import 424,000 MT of sugar.

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