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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured by India Sugar Crop Optimism

ISM India Brazil Thailand ISO London NY the Indian Sugar and Bioenergy Manufacturers Association USDA

October NY world sugar #11 (SBV24) Monday closed down -0.12 (-0.53%), and December London ICE white sugar #5 (SWZ24) closed up +1.30 (+0.23%).

Sugar prices on Monday settled mixed.   Sugar came under pressure Monday on optimism that above-average monsoon rains in India will lead to a bumper sugar crop.  The Indian Meteorological Department reported Monday that India received 934.8 mm of rain during the current monsoon season as of September 30, the most in four years and 7.6% more than the comparable long-term average of 868.6 mm.  India's monsoon season runs from June through September.

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