Sugar #11 May '24 (SBK24)
Sugar #11 Futures Market News and Commentary
May NY world sugar #11 (SBK26) on Tuesday closed down -0.04 (-0.30%), and Aug London ICE white sugar #5 (SWQ26) closed up +4.40 (+1.05%).
Sugar prices settled mixed on Tuesday, with London sugar posting a 1-week high. Â Sugar prices have been under pressure for the past three weeks, with NY sugar falling to a 5.5-year low in the nearest futures contract last Friday amid expectations of abundant global supplies and tepid demand. Â Last Wednesday's expiration of the May London sugar contract saw 472,650 MT of deliveries to settle the contract, the most for a May contract in 14 years, a sign of tepid sugar demand. Â Â
The outlook for smaller Brazilian sugar output is supportive for prices. Â The USDA on Tuesday forecast Brazil's 2026/27 sugar production at 42.5 MMT, down 3% y/y, citing millers crushing more cane for ethanol rather than sugar.
Signs of a smaller global sugar surplus are also supportive for prices. Â Covrig Analytics on Tuesday cut its 2026/27 global suga... Read more
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May NY world sugar #11 (SBK26 ) on Tuesday closed down -0.04 (-0.30%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +4.40 (+1.05%). Sugar prices...
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Warren Buffett is known for favoring durable businesses with strong cash flows, the kind that can sustain and grow dividends over time.
