October NY world sugar #11 (SBV26) on Monday closed down -0.13 (-0.87%), and Aug London ICE white sugar #5 (SWQ26) closed down -4.00 (-0.86%).
Sugar prices moved lower on Monday for a second session and posted 2-week lows. An improvement in India’s monsoon rains is weighing on sugar prices after India’s Meteorological Department reported today that India’s cumulative monsoon rainfall was 19% below normal as of July 13, a substantial improvement from 42% below normal on June 30.