October NY world sugar #11 (SBV24) on Friday closed down -0.09 (-0.48%), and Oct London ICE white sugar #5 (SWV24) closed down -0.60 (-0.11%).
Sugar prices Friday fell back from 1-week highs and posted moderate losses on optimism that above-average monsoon rains in India will lead to a bumper sugar crop. NY sugar on Monday fell to a 1-3/4 year nearest-futures low, and London sugar dropped to a 2-1/3 year low after the Indian Meteorological Department reported that India received 512.5 mm of rain during the current monsoon season as of August 4, up +6% from the comparable long-term average of 481.9 mm. India's monsoon season runs from June through September.
