October NY world sugar #11 (SBV24) today is down -0.12 (-0.65%), and Oct London ICE white sugar #5 (SWV24) is down -0.80 (-0.15%).
Sugar prices today fell back from 1-week highs and turned lower on optimism that above-average monsoon rains in India will lead to a bumper sugar crop. NY sugar on Monday posted a 1-3/4 year nearest-futures low, and London sugar dropped to a 2-1/3 year low after the Indian Meteorological Department reported that India received 512.5 mm of rain during the current monsoon season as of August 4, up +6% from the comparable long-term average of 481.9 mm. India's monsoon season runs from June through September.
