White Sugar #5 Dec '24 (SWZ24)
White Sugar #5 Futures Market News and Commentary
July NY world sugar #11 (SBN26) on Friday closed up +0.34 (+2.33%), and Aug London ICE white sugar #5 (SWQ26) closed up +7.60 (+1.73%).
Sugar prices rallied sharply on Friday, with NY sugar posting a 3.5-week high. Â Concerns that higher gasoline prices will prompt the world's sugar mills to divert more cane crushing to ethanol production rather than sugar are supporting sugar prices. Â Green Pool Commodity Specialists on Friday raised their global 2026/27 sugar deficit estimate to -4.30 MMT from a previous estimate of -1.66 MMT, citing a shift to higher ethanol production at the expense of sugar.
Strength in gasoline prices is supportive for sugar, as gasoline (RBM26) surged to a 3.75-year high on Thursday, 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 su... Read more
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Cotton futures closed the Friday session with contracts up 89 to 199 points higher, as July was up 483 points for the week. December was up 398 points....
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July NY world sugar #11 (SBN26 ) on Friday closed up +0.34 (+2.33%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +7.60 (+1.73%). Sugar prices...
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Cotton futures closed the Friday session with contracts up 89 to 199 points higher, as July was up 483 points for the week. December was up 398 points....
