October NY world sugar #11 (SBV24) today is down -0.42 (-2.27%), and Oct London ICE white sugar #5 (SWV24) is down -8.00 (-1.53%).
Sugar prices today are moderately lower, with NY sugar falling to a 1-week low and London sugar tumbling to a 9-month nearest-futures low. The outlook for above-average monsoon rains in India has boosted optimism about India's sugar crop. The India Meteorological Department on Thursday forecasted that monsoon rainfall in India will be 106% of the long-term average of 422.8 mm (16.65 inches) during August and September. The Indian Meteorological Department reported Monday that India received 430.2 mm of rain during the current monsoon season as of July 28, up +3% from the comparable long-term average of 418.9 mm. India's monsoon season runs from June through September.
