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Rich Asplund

Sugar Prices Slump as Global Sugar Supply Concerns Ease

London Thailand NY Brazil India Unica USDA

July NY world sugar #11 (SBN24) this morning is down -0.56 (-2.90%), and Aug London ICE white sugar #5 (SWQ24) is down -16.50 (-2.90%).

Sugar prices this morning are sharply lower, with NY sugar falling to a 1-1/2 year nearest-futures low and London sugar falling to a 1-1/4 year low. Sugar prices are lower on an easing of global sugar supply concerns and technical selling with today's new lows. Last Thursday, Datagro raised its 2024 Center-South sugar production estimate to 41.6 MMT from a March estimate of 40.45 MMT.

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