
July NY world sugar #11 (SBN24) this morning is up +0.43 (+2.21%), and Aug London ICE white sugar #5 (SWQ24) is up +11.00 (+1.92%).
Sugar prices today are moderately higher, with London sugar posting a 3-week high. Sugar has carryover support from Monday when the Indian Sugar and Bioenergy Manufacturers Association reported that India's 2023/24 sugar production from Oct-Apr fell -1.6% y/y to 31.4 MMT as more sugar mills closed for the year and ended their sugarcane crush. As of Apr 30, 516 Indian sugar mills had closed operations compared with 460 mills that closed at the same time last year.