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Barchart
Barchart
Rich Asplund

Sugar Prices Tumble as Global Supply Prospects Improve

India London NY USDA Brazil ISMA Thailand

October NY world sugar #11 (SBV25) Wednesday closed down -0.12 (-0.76%), and August London ICE white sugar #5 (SWQ25) closed down -3.90 (-0.84%).

Sugar prices on Wednesday added to this week's selloff, with NY Oct sugar falling to a new contract low and London sugar dropping to a 3-3/4 year nearest-futures low.  Signs of robust sugar supplies amid tepid demand are weighing on prices.  On Tuesday, ICE Futures US reported that 45,112 MT of NY sugar was delivered to settle the July sugar contract, which expired on Monday, the smallest amount delivered for a July contract in 11 years and a sign of weak demand.  On Monday, nearest-futures (SBN25) NY sugar posted a 4-1/4 year nearest-futures low.  

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