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Barchart
Barchart
Rich Asplund

Sugar Prices Weighed Down by Improved Global Supplies

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

March NY world sugar #11 (SBH25) today is down -0.12 (-0.56%), and March London ICE white sugar #5 (SWH25) is down -3.70 (-0.67%).

Sugar prices today are posting moderate losses but remain above Monday's significant lows.  On Monday, NY sugar posted a 2-1/2 month low, and London sugar posted a 3-week low.  An improvement in sugar supplies is bearish for prices.  On November 21, the International Sugar Organization (ISO) lowered its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT.  The ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  

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