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Barchart
Barchart
Rich Asplund

Sugar Prices Slightly Lower on Prospects for Higher Brazil Output

Brazil USDA India NY Thailand London United Kingdom

October NY world sugar #11 (SBV25) today is down -0.08 (-0.49%), and October London ICE white sugar #5 (SWV25) did not trade with markets in the UK closed for a bank holiday.

Sugar prices today are slightly lower due to strength in the dollar (DXY00).  Prices have also been under pressure over the past week and posted 2-week lows last Monday on the outlook for Brazil's sugar mills to increase production.  Last Monday, Covrig Analytics reported that Brazil's sugar mills are prioritizing sugar production over ethanol, crushing more cane for sugar.  This trend is expected to continue as harvesting peaks, driven by drier cane crops that prompt mills to produce more sugar.  

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