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Barchart
Barchart
Rich Asplund

Sugar Prices Underpinned by Brazil Sugar Crop Woes

Brazil India NY Drought ISM London Thailand USDA

October NY world sugar #11 (SBV24) today is up +0.17 (+0.74%), and December London ICE white sugar #5 (SWZ24) is down -2.00 (-0.34%).

Sugar prices today are mixed, with NY sugar posting a 7-month high.   Drought conditions in Brazil have reduced the country's sugar production prospects and have pushed sugar prices sharply over the past two weeks.  Last Friday, Rabobank cut its 2024/25 Brazil sugar production forecast to 39.3 MMT from a previous forecast of 40.3 MMT, citing excessive dryness.  

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