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Barchart
Barchart
Rich Asplund

Sugar Prices Slump as Supply Concerns Ease

India London NY Brazil Thailand the Indian Sugar and Bioenergy Manufacturers Association Unica USDA

October NY world sugar #11 (SBV24) today is down -0.47 (-2.33%), and Aug London ICE white sugar #5 (SWQ24) is down -14.00 (-2.50%).

Sugar prices today are sharply lower, with NY sugar falling to a 1-1/2 week low and London sugar sliding to a 2-1/2 week low.  Above-normal monsoon rain in India may boost sugar output and is bearish for sugar prices.  The Indian Meteorological Department reported Monday that India received 225.7 mm of rain during the current monsoon season as of July 7, up +2% from the comparable long-term average of 221.6 mm.

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