White Sugar #5 Aug '24 (SWQ24)
White Sugar #5 Futures Market News and Commentary
July NY world sugar #11 (SBN26) on Friday closed down -0.19 (-1.27%), and Aug London ICE white sugar #5 (SWQ26) closed down -4.40 (-0.99%).
Sugar prices settled sharply lower for a second day on Friday amid weakness in the Brazilian real. The real (^USDBRL) tumbled to a 5-week low against the dollar on Friday, encouraging export sales from Brazil's sugar producers.
On Wednesday, sugar prices climbed to 1.5-week highs amid an outlook for tighter global sugar supplies. India banned sugar exports for four months, until September 30, to protect local supplies. Also, Datagro raised its 2026/27 global sugar surplus deficit estimate to -3.17 MMT from -2.26 MMT previously. On Tuesday, StoneX predicted that the global sugar market will fall into a -550,000 MT deficit during the 2026/27 season from a 2.3 MMT surplus in the 2025/26 season.
On Monday, Citigroup projected Brazil's 2026/27 sugar production at 39.50 MMT, well below Conab's estimate of 43.95 MMT, citing Braz... Read more
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July NY world sugar #11 (SBN26 ) on Friday closed down -0.19 (-1.27%), and Aug London ICE white sugar #5 (SWQ26 ) closed down -4.40 (-0.99%). Sugar prices...
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