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Barchart
Barchart
Rich Asplund

Sugar Prices Settle Lower on the Prospects of Abundant Monsoon Rain in India

India India Meteorological Department Thailand Brazil ISM ISO USDA

October NY world sugar #11 (SBV24) on Thursday closed down -0.44  (-2.32%), and Oct London ICE white sugar #5 (SWV24) closed down -11.50 (-2.15%).

Sugar prices retreated Thursday on the outlook for above-average monsoon rains in India to boost its sugar crop.  The India Meteorological Department today forecast monsoon rainfall in India will be 106% of the long-term average of 422.8 mm (16.65 inches) during August and September.   The Indian Meteorological Department reported Monday that India received 430.2 mm of rain during the current monsoon season as of July 28, up +3% from the comparable long-term average of 418.9 mm.  India's monsoon season runs from June through September.

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