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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured by Ample Global Supplies

India NY Thailand Brazil ISM London Unica USDA

October NY world sugar #11 (SBV24) on Wednesday closed down -0.42 (-2.28%), and Oct London ICE white sugar #5 (SWV24) closed down -7.70 (-1.47%).

Sugar prices Wednesday closed moderately lower.  Over the past month, sugar prices have been under pressure on signs of larger global supplies.  NY sugar posted a 1-3/4 year nearest-futures low last Monday, and London sugar dropped to a 2-1/3 year low.  Unica reported Tuesday that Brazil's Center-South sugar production in the marketing year through July was up by +8% y/y at 20.753 MMT.

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