White Sugar #5 Dec '27 (SWZ27)
White Sugar #5 Futures Market News and Commentary
October NY world sugar #11 (SBV26) on Thursday closed down -0.05 (-0.34%), and October London ICE white sugar #5 (SWV26) closed down -4.90 (-1.05%).
Sugar prices fell on Thursday due to a stronger dollar and the prospect of higher Indian sugar output as monsoon rains continue to improve. India’s Meteorological Department reported on Wednesday that India’s cumulative monsoon rainfall was 19% below normal as of July 22, a substantial improvement from 42% below normal on June 30. India’s Earth Science Ministry initially warned that this year’s monsoon in India could be the weakest in 11 years. India’s monsoon season runs from June through September.Â
Sugar gained underlying support from Thursday’s surge of more than +7% in WTI crude oil (CLQ26). The rise in oil prices is bullish for ethanol prices, which may encourage sugar mills worldwide to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.Â
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