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Barchart
Barchart
Rich Asplund

Sugar Prices Soar on Global Weather Risks

March NY world sugar #11 (SBH27) closed up +0.80 (+4.01%) on Monday, and December London ICE white sugar #5 (SWZ26) closed up +16.10 (+3.03%).

Sugar prices soared on Monday, with NY sugar posting a 19-month nearest-futures high and London sugar posting a 1.5-month high as weather risks are fueling fund buying of sugar futures. Ongoing rains in Brazil’s Center-South sugar-growing region have slowed sugar harvesting and are disrupting cane crushing at Brazil’s sugar mills, curbing supplies.

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