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Barchart
Barchart
Rich Asplund

Sugar Prices Sink on the Outlook for Ample Monsoon Rains in India

India London NY Brazil Green Pool Commodity Specialists Thailand USDA

May NY world sugar #11 (SBK25) Tuesday closed down -0.35 (-1.96%), and May London ICE white sugar #5 (SWK25) closed down -14.30 (-2.71%).

Sugar prices retreated Tuesday, with NY sugar posting a 2-1/2 year nearest-futures low and London sugar posting a 2-3/4 month low.  The outlook for abundant rain in India that leads to a bumper sugar crop is undercutting sugar prices.  On Tuesday, India's Ministry of Earth Sciences projected an above-normal monsoon this year, with total rainfall forecast to be 105% of the long-term average.  India's monsoon season runs from June through September.  

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