Sugar #16 Nov '24 (SDX24)
Sugar #16 Futures Market News and Commentary
July NY world sugar #11 (SBN26) on Friday closed down -0.20 (-1.34%), and Aug London ICE white sugar #5 (SWQ26) closed down -2.60 (-0.58%).
Sugar prices settled lower on Friday, consolidating above Monday's 2-week lows. Â Strength in sugar exports from Thailand, the world's second-largest sugar exporter, weighed on prices. Â Thailand's 2026 sugar exports Jan-Apr rose +29% y/y to 1.6 MMT.
On Monday, sugar prices fell to 2-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.
Growing concerns that dry weather from an El Niño event could disrupt global sugar production are supportive of prices.  The emergence of an El Niño is likely to curb rainfall in Brazil, India, and... Read more
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July NY world sugar #11 (SBN26 ) on Friday closed down -0.20 (-1.34%), and Aug London ICE white sugar #5 (SWQ26 ) closed down -2.60 (-0.58%). Sugar prices...
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