Sugar #11 May '29 (SBK29)
Sugar #11 Futures Market News and Commentary
October NY world sugar #11 (SBV26) closed down -0.38 (-2.15%) on Tuesday, and October London ICE white sugar #5 (SWV26) closed down -18.90 (-3.53%).
Sugar prices settled sharply lower on Tuesday, with London sugar falling to a 1-week low. Long liquidation emerged in sugar on speculation that India will import less sugar than previously estimated. Also, Tuesday’s -3% slump in crude oil prices (CLV26) to a 1-week low undercuts ethanol prices and could potentially prompt the world’s sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting global sugar supplies.
India-based sugar analyst Greenleaf said Monday that India will not be able to import more than 500,000 MT of sugar by October 31, well below expectations of 1 MMT. Also, the Indian Sugar & Bio Energy Manufacturers Association (ISMA) said there isn’t any sugar shortage in India, and supplies are adequate for meeting higher demand during the upcoming festival season. ISMA also... Read more
Barchart · Tue Aug 25, 5:16PM CDT
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Barchart · Tue Aug 25, 1:29PM CDT
October NY world sugar #11 (SBV26 ) closed down -0.38 (-2.15%) on Tuesday, and October London ICE white sugar #5 (SWV26 ) closed down -18.90 (-3.53%)....
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Barchart · Tue Aug 25, 11:23AM CDT
October NY world sugar #11 (SBV26 ) is down -0.37 (-2.10%) today, and October London ICE white sugar #5 (SWV26 ) is down -18.70 (-3.49%). Sugar prices...
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