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Barchart
Barchart
Rich Asplund

Sugar Prices Mixed as a Stronger Dollar Weighs

India Brazil ISMA ISO London NY

July NY world sugar #11 (SBN23) on Tuesday closed down -0.18 (-0.69%), and Aug London white sugar #5 (SWQ23) closed up +0.50 (+0.07%).

Sugar prices Tuesday settled mixed.  Sugar prices were pressured by a rally in the dollar index Tuesday to a 2-month high.  However, losses in sugar prices were limited by carryover support from Monday when the International Sugar Organization (ISO) cut its 2022/23 global sugar production and sugar surplus estimates.  The ISO cut its 2022/23 global sugar production estimate to 177.4 MMT from a previous estimate of 180.4 MMT and cut its 2022/23 global sugar surplus estimate to 852,000 MT from a previous estimate of 4.15 MMT.  ISO on May 4 forecasted a global 2023/24 sugar surplus of +2.1 MMT.  

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