1. Report Information - Report Title: Sugar Daily Report - Date: June 13, 2025 - Researcher: Wang Haifeng, Lin Zhenlei, Yu Lanlan, Hong Chenliang, Liu Youran [3] 2. Market Review and Operation Suggestions Futures Market - SR509 closed at 5,647 yuan/ton, down 45 yuan or 0.79%, with an increase of 9,449 contracts in open interest [7]. - SR601 closed at 5,522 yuan/ton, down 36 yuan or 0.65%, with an increase of 2,038 contracts in open interest [7]. - US Sugar 07 closed at 16.42 cents/pound, down 0.06 cents or 0.36%, with a decrease of 25,132 contracts in open interest [7]. - US Sugar 10 closed at 16.81 cents/pound, down 0.04 cents or 0.24%, with an increase of 22,263 contracts in open interest [7]. Market Analysis - New York raw sugar futures weakened on Monday, with the main July contract down 0.36% to 16.42 cents/pound. London ICE white sugar futures' main August contract rose 1.1% to $472.80/ton. The main market pressure is the increasing production in Brazil. A survey by S&P showed that sugar production in the central - southern region of Brazil in the second half of May increased by 4.7% year - on - year. The market is waiting for Unica's production data [7]. - Zhengzhou sugar's main contract continued to decline to a new low. The decline was mainly due to the aggressive short - selling by speculative funds. The only weakness of the short side is the low and concentrated holding cost [8]. 3. Industry News - S&P Global Commodity Insights survey: In the second half of May, sugar cane crushing in the central - southern region of Brazil is expected to increase by 1.2% year - on - year to 45.91 million tons, sugar production is expected to increase by 4.7% to 2.839 million tons, ethanol production is expected to decrease by 5.6% to 2.005 billion liters, and the sugar - cane sugar ratio is expected to be 51.84% [9]. - Brazil's sugar exports in the first week of June were 783,197.58 tons, with a daily average of 156,639.52 tons, a 2% decrease compared to the daily average in June last year [9]. - India is expected to have a sugar production surplus for at least two consecutive years. With sufficient rainfall, farmers have expanded the sugar - cane planting area, and crop yields are expected to increase. India can increase exports in the 2025/26 season [9]. - In the 24/25 sugar - making season, Guangdong's cumulative sugar production was 654,500 tons, an increase of 122,800 tons year - on - year. As of the end of May, the cumulative sugar sales were 654,500 tons, an increase of 223,600 tons year - on - year, with an industrial inventory of 0 tons, a decrease of 100,800 tons year - on - year, and a sales - to - production ratio of 100%, an increase of 18.97% year - on - year [9]. - In the 24/25 sugar - making season, Xinjiang's final sugar production was 814,200 tons, an increase of 255,600 tons year - on - year. As of the end of May, the cumulative sugar sales were 618,800 tons, an increase of 231,400 tons year - on - year, with an industrial inventory of 195,400 tons, an increase of 24,200 tons year - on - year, and a sales - to - production ratio of 76%, an increase of 6.65% year - on - year [9][10]. 4. Data Overview - The report provides multiple data charts, including spot price trends, 2509 contract basis, SR9 - 1 spread, Brazilian raw sugar import profit, Zhengzhou Commodity Exchange warehouse receipts, Brazilian real exchange rate, and the trading and holding positions of the top 20 seats of the Zhengzhou sugar main contract [11][13][16][20]