News Summary Core Viewpoint - Brazil's sugar production is expected to decline in the 2026/27 season, while domestic sugar mills in Guangxi are ramping up production, leading to increased sugar supply in the market [1][2][3] Group 1: Brazil Sugar Market - As of November 26, the number of ships waiting to load sugar at Brazilian ports decreased to 56 from 61 the previous week, with the total sugar waiting for shipment at 2.0672 million tons, down 10.1% from 2.2994 million tons [1] - The sugar production forecast for Brazil's 2026/27 season is set at 41.5 million tons, lower than the previous year's estimate of 40.2 million tons [1] Group 2: Domestic Sugar Market in China - In Guangxi, over 20 sugar mills have commenced operations as of November 26, with expectations that the total will reach between 31 and 35 by the end of November, indicating a peak in sugar production [1] - Domestic sugar prices are under pressure due to the increase in new sugar supply, while the current spot market transactions are generally stable [2][3] - The Chinese Ministry of Agriculture has raised the domestic sugar production forecast while lowering demand expectations, leading to an anticipated increase in ending stocks [3]