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.