White Sugar #5 Mar '18 (SWH18)
White Sugar #5 Futures Market News and Commentary
July NY world sugar #11 (SBN26) on Monday closed up +0.39 (+2.77%), and Aug London ICE white sugar #5 (SWQ26) closed up +11.80 (+2.69%).
Monday’s gains added to last Friday’s rally of +0.93% in world sugar and +2.94% in London white sugar.Â
Sugar prices on Monday continued higher amid concerns that an emerging El Niño weather pattern could lead to a poor monsoon season in India, the world's second-largest sugar producer. Also, India's weather office recently lowered its cumulative rainfall estimate for the June-September monsoon season last Friday to 90% of the long-term average, down from a forecast of 92% issued in April.
Sugar prices have support from concerns that dry weather from an El Niño event could disrupt global sugar production. The emergence of an El Niño is likely to curb rainfall in Brazil, India, and Thailand, the world's three largest sugar-producing regions. The US National Oceanic and Atmospheric Administration (NOAA) estimates an 82% probabili... Read more
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July NY world sugar #11 (SBN26 ) on Monday closed up +0.39 (+2.77%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +11.80 (+2.69%). Monday’s gains...
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