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Barchart
Barchart
Rich Asplund

Sugar Settles Higher on Concerns About Global Sugar Output

India Brazil Thailand El Nino Europe London USDA

March NY world sugar #11 (SBH24) on Tuesday closed +0.19 (+0.69%), and March London ICE white sugar #5 (SWH24) closed +2.80 (+0.38%).

Sugar prices on Tuesday extended Monday's gains and posted 1-week highs.  Heavy rain in Europe has flooded fields and has delayed sugar beet production, threatening to tighten global sugar supplies further.  France recently received 32 straight days of rainfall, the longest stretch since 1998.  Almost 50% of France's sugar beets remain unharvested due to flooded fields, and if the fields don't dry soon to allow fieldwork, the remainder of the beet crop might be damaged from frost.

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