Sugar #11 Jul '23 (SBN23)
Sugar #11 Futures Market News and Commentary
May NY world sugar #11 (SBK26) on Monday closed down -0.03 (-0.20%), and May London ICE white sugar #5 (SWK26) did not trade with UK markets closed for the Easter Monday holiday.
NY sugar prices slid to a 2-week low and settled lower on Monday due to negative carryover from last Thursday when India's National Federation of Cooperative Sugar Factories Ltd. reported that India's 2025-26 sugar output from Oct 1-Mar 31 was up +9% y/y to 27.12 MMT.
Losses in sugar prices were limited on Monday after the Brazilian real (^USDBRL) rallied to a 3.5-week high against the dollar. Â The stronger real discourages export sales from Brazil's sugar producers.
Higher sugar production in Brazil is also bearish for sugar prices. Â On March 27, Unica reported that cumulative 2025-26 Center-South sugar output (October through mid-March) is up +0.7% y/y to 40.25 MMT, with sugar mills boosting the amount of cane crushed for sugar to 50.61% from 48.08% last year.
Last Monday, NY sugar... Read more
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