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Barchart
Rich Asplund

UNBELIEVABLE: Sugar prices jump on brazil sugar crop concerns - The Untold Story

Brazil India ISM NY Thailand ISO London United Kingdom USDA

October NY world sugar #11 (SBV24) today is up +0.70 (+3.81%).  Oct London ICE white sugar #5 (SWV24) is not trading today, with markets in the UK closed for a bank holiday.

NY sugar today jumped to a 3-week high.  Sugar prices have risen sharply since last Thursday when Conab, Brazil's government crop forecasting agency, cut its 2024/25 Brazil Center South sugar production estimate to 42 MMT from a previous forecast of 42.7 MMT, citing lower sugarcane yields due to drought and excessive heat.  Separately, in the 2024/25 marketing year through July, Brazil's Center-South sugar production was up by +8% y/y at 20.753 MMT, according to a Unica report on August 13.

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