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Rich Asplund

Sugar Prices Pressured as India’s Monsoon Rains Improve

India NY USDA Ethanol ISO Brazil Deficit FAs India Meteorological Department London

October NY world sugar #11 (SBV26) on Wednesday closed down -0.03 (-0.20%), and Aug London ICE white sugar #5 (SWQ26) closed up +4.70 (+0.99%).

Sugar prices settled mixed on Wednesday, with NY sugar falling from a 1.75-month high. An improvement in India’s monsoon rains sparked long liquidation in sugar futures on Wednesday after India’s Meteorological Department reported that India’s cumulative monsoon rainfall was 15% below normal as of July 8, a substantial improvement from 42% below normal on June 30.

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