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Barchart
Barchart
Rich Asplund

Sugar Prices Jump to 11-Year Highs on Scant Supplies

India NY ISMA ISO London

May NY world sugar #11 (SBK23) on Tuesday closed up +0.74 (+2.86%), and Aug London white sugar #5 (SWQ23) closed up +15.00 (+2.17%).

Sugar prices Tuesday extended Monday's sharp rally to 11-year highs.  NY sugar is surging on short covering ahead of this Friday's expiration of the May sugar contract.  With limited physical sugar supplies available in the cash market for deliveries, traders are being forced to pay up to cover short sugar futures positions.  

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