White Sugar #5 May '22 (SWK22)
White Sugar #5 Futures Market News and Commentary
May NY world sugar #11 (SBK26) on Wednesday closed up +0.57 (+4.04%), and Aug London ICE white sugar #5 (SWQ26) closed up +11.90 (+2.75%).
Sugar prices rallied sharply on Wednesday, with NY sugar posting a 3-week high and London sugar posting a 4-week high. Â Strength in gasoline prices is supportive for sugar, as gasoline (RBM26) surged to a 3.75-year high on Wednesday, boosting ethanol prices and potentially persuading the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies. Â
The action by Brazil's sugar mills to boost ethanol production at the expense of sugar is supportive for sugar prices. Â On Tuesday, Conab in its initial report for the new sugar season reported that 2026/27 Brazil sugar output is down -0.5% to 43,952 MT, while ethanol output is up +7.2% y/y to 29,259 million liters.
Sugar prices have been under pressure for the past four weeks, with NY sugar falling to a 5.5-year low in th... Read more
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May NY world sugar #11 (SBK26 ) on Wednesday closed up +0.57 (+4.04%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +11.90 (+2.75%). Sugar prices...
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