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Barchart
Barchart
Rich Asplund

Sugar Prices Supported by India Crop Concerns

India NY Deficit ISO Brazil Ethanol FAs India Meteorological Department ISMA StoneX

October NY world sugar #11 (SBV26) on Friday closed up +0.23 (+1.59%), and October London ICE white sugar #5 (SWV26) closed up +4.90 (+1.07%).

Sugar prices settled sharply on Friday as short covering emerged over concerns about India’s sugar crop. India’s Meteorological Department said Friday that monsoon rainfall in India during August and September “will likely be below normal.” India’s Earth Science Ministry has warned that this year’s monsoon in India could be the weakest in 11 years. India’s monsoon season runs from June through September.

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