Sugar #11 Mar '23 (SBH23)
Sugar #11 Futures Market News and Commentary
July NY world sugar #11 (SBN26) on Wednesday closed down -0.28 (-1.87%), and Aug London ICE white sugar #5 (SWQ26) closed unchanged.
Sugar prices gave up an early advance today and settled mostly lower. Â Sugar prices came under pressure after crude oil prices (CLN26) plunged by more than -5% on Wednesday, which undercuts ethanol prices and could persuade global sugar mills to divert more cane crushing to sugar production rather than ethanol, boosting sugar supplies. Â
On Monday, sugar prices fell to 1-week lows after the ISO forecast a record global sugar crop for the 2025/26 season and raised its global surplus estimate. Â The ISO forecasts 2025/26 global sugar production at a record 182 MMT, up +3.5% y/y, and raised its 2025/26 global sugar surplus estimate to 2.2 MMT from a February forecast of 1.22 MMT, rebounding from a -3.46 MMT deficit in 2024-25.
Sugar prices have support on projections from the International Sugar Organization (ISO) that 2026/27 global suga... Read more
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