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Rich Asplund

YOU WONT BELIEVE: Sugar prices push higher on global weather risks - You Need To See This

India United States London NY Deficit Brazil FAs ISO USDA Covrig Analytics

October NY world sugar #11 (SBV26) is up +0.03 (+0.18%) today, and October London ICE white sugar #5 (SWV26) is up +4.20 (+0.83%).

Sugar prices added to their week-long surge today, with NY sugar posting a 10-month nearest-futures high and London sugar posting a 15-month high. Concerns over lower global sugar production are propelling prices sharply higher. Due to drought and hot weather in Europe, sugar production in the European Union and the UK is set to decline to 14.98 MMT this year, the lowest level in 11 years, according to data from S&P Global Energy.

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