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Barchart
Barchart
Rich Asplund

Sugar Prices Mixed Amid Ample Supplies and Rising Crude Prices

March NY world sugar #11 (SBH25) Friday closed down -0.08 (-0.41%), and March London ICE white sugar #5 (SWH25) closed up +1.20 (+0.23%).

Sugar prices Friday settled mixed.  Over the past three months, sugar prices have been trending lower.  On Tuesday, NY sugar posted a 3-1/2 month nearest-futures low, and on Monday, London sugar posted a 2-3/4 year low on an improved sugar supply outlook.   On November 21, the International Sugar Organization (ISO) reduced its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT.  ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  

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