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Barchart
Barchart
Rich Asplund

Sugar Prices Undercut by an Improved Supply Outlook and Brazilian Real Weakness

Brazil India NY Thailand ISO London the Indian Sugar and Bioenergy Manufacturers Association Unica USDA

October NY world sugar #11 (SBV24) today is down -0.49 (-2.53%), and Oct London ICE white sugar #5 (SWV24) is down -11.30 (-2.03%).

Sugar prices today added to this week's losses, with NY sugar falling to a 3-week low.  Sugar prices are weighed down by negative carryover from Wednesday when Covrig Analytics said it expects the 2024/25 global sugar market to be in surplus by +182,000 MT, veris the previous estimate for a -2.6 MMT deficit.

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