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Barchart
Barchart
Rich Asplund

The Outlook for Higher Brazil Sugar Production Weighs on Prices

Brazil India USDA Ethanol NY FAs London Thailand

October NY world sugar #11 (SBV25) today is down -0.13 (-0.79%), and October London ICE white sugar #5 (SWV25) is down -2.00 (-0.42%).

Sugar prices today are weaker and fell to 1-week lows.  The outlook for Brazil's sugar mills to boost sugar production at the expense of ethanol output is weighing on sugar prices.  Covrig Analytics said today that Brazil's sugar mills are favoring sugar production over ethanol and have been crushing more cane for sugar, and that will likely continue as harvesting approaches its peak due to drier cane crops, which prompt the mills to make more sugar.  

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