March NY world sugar #11 (SBH25) Friday closed down -0.19 (-1.03%), and March London ICE white sugar #5 (SWH25) closed down -6.40 (-1.32%).
Sugar prices posted moderate losses on Friday, just above Wednesday's significant lows. Sugar prices have trended lower over the past three months on an improved sugar supply outlook, and on Wednesday, NY sugar posted a 4-3/4 month nearest-futures low, and London sugar posted a 3-1/3 year low. 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.
