White Sugar #5 May '19 (SWK19)
White Sugar #5 Futures Market News and Commentary
July NY world sugar #11 (SBN26) on Tuesday closed down -0.16 (-1.09%), and Aug London ICE white sugar #5 (SWQ26) closed down -5.50 (-1.24%).
Sugar prices retreated on Tuesday, with NY sugar posting a 2.5-week low. Â Tuesday's fall in crude oil prices (CLN26) to a 2.5-week low weighed on sugar prices. Â Weak crude prices undercut ethanol prices and could spur global sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.
Also, strength in Thailand's sugar exports, the world's second-largest, is pressuring prices. Â Thailand's 2026 sugar exports Jan-Apr rose +29% y/y to 1.6 MMT.
Last Monday, 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 d... Read more
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