Price Movements - Sugar prices experienced a significant rally, with NY sugar closing up +2.42% and London sugar up +2.68%, reaching a 1.5-month high and a 4.75-month high respectively [1] - The rise in sugar prices is attributed to soaring gasoline prices, which have reached a 3.5-year high, positively impacting ethanol prices and encouraging sugar mills to increase ethanol production at the expense of sugar [1] Global Sugar Surplus Forecasts - Analysts from Czarnikow predict a global sugar surplus of 3.4 million metric tons (MMT) for the 2026/27 crop year, following an 8.3 MMT surplus in 2025/26 [2] - Green Pool Commodity Specialists forecast a 2.74 MMT surplus for 2025/26 and a 156,000 MT surplus for 2026/27 [2] - StoneX anticipates a global sugar surplus of 2.9 MMT in 2025/26 [2] Production Insights - The International Sugar Organization (ISO) forecasts a sugar surplus of +1.22 MMT for 2025-26, driven by increased production in India, Thailand, and Pakistan, with a projected global production rise of +3.0% year-on-year to 181.3 million MMT [3] - Brazil's sugar production in the Center-South region fell by -36% year-on-year in the second half of January, although cumulative output for 2025-26 through January rose +0.9% year-on-year to 40.24 MMT [4] - India's sugar output from October 1 to March 15 for 2025-26 increased by +10.5% year-on-year to 26.2 MMT, with projections for total production set at 29.3 MMT, a 12% increase year-on-year [5]

Group 1 - Corn futures are experiencing midday losses ranging from 1 to 2.5 cents, with the CmdtyView national average cash corn price increasing by 0.5 cents to $3.94 1/2 [1] - Ethanol production for the week ending on February 13 was reported at 1.118 million barrels per day, an increase of 8,000 barrels per day from the previous week, while stocks rose by 341,000 barrels to 25.588 million barrels [1] - The USDA's armchair estimate for the US corn balance sheet indicated an acreage estimate of 94 million acres, a decrease of 4.8 million acres if realized this spring, with corn production estimated at 15.755 billion bushels and trend yield at 183 bushels per acre [2] Group 2 - The International Grains Council reported that corn stocks are unchanged at 305 million metric tons for the 2025/26 period, despite a consumption increase of 1 million metric tons [3] - Current corn prices include March 26 Corn at $4.24 1/2, Nearby Cash at $3.91 1/4, May 26 Corn at $4.35, and July 26 Corn at $4.43 1/2, all showing slight declines [3]

Group 1 - Corn prices decreased by 3 to 4 cents on Tuesday morning, following a previous gain of 2 to 4 cents across most futures contracts on Monday [1] - The CmdtyView national average Cash Corn price increased by 3 1/4 cents to $3.95 3/4 [1] Group 2 - USDA reported corn export shipments at 1.669 million metric tons (65.7 million bushels) for the week ending October 30, which is 34.31% higher than the previous week and more than double the same week last year [2] - Mexico was the leading destination for corn exports, receiving 512,336 metric tons, followed by South Korea with 282,975 metric tons and Japan with 208,955 metric tons [2] - Total marketing year exports for 2025/26 reached 12.257 million metric tons (482.54 million bushels) since September 1, marking a 63.99% increase compared to the same period last year [2] Group 3 - StoneX estimates the 2025 US corn yield at 186 bushels per acre, a slight increase from the previous estimate of 185.9 bushels per acre [3] - The NASS Crop Production report is anticipated this month, with the release date postponed to November 14 due to the government shutdown [3] - CONAB projects Brazil's ethanol production for 2025/26 at 36.16 billion liters, up from the previous estimate of 35.74 billion liters [3]

Group 1 - Corn prices are experiencing slight gains, with futures impacted by a decline of 3 to 4 cents in nearby contracts due to Turnaround Tuesday weakness [1] - The CmdtyView national average Cash Corn price decreased by 3 cents to $3.79 1/2 [1] - The average close for December corn futures is $4.19, with only 8 trading days left to secure a harvest crop insurance price above $4.16 from last year's fall price and below $4.70 from the spring [2] Group 2 - EIA data is anticipated to show steady ethanol production following last week's strong output [3] - Brazil's corn exports for October are estimated at 6.57 million metric tons, reflecting a slight increase of 0.11 million metric tons from previous estimates [3] - Brazilian corn ethanol production is projected to grow between 3 to 3.5 billion liters (792 to 925 million gallons) in the 2026/27 period, with expected increases in ethanol imports for 2025/26 [3] Group 3 - December 25 Corn closed at $4.19 3/4, down 3 1/2 cents, while nearby cash was at $3.79 1/2, also down 3 cents [4] - March 26 Corn closed at $4.33 3/4, down 3 1/4 cents, and May 26 Corn closed at $4.41 3/4, down 3 1/2 cents [4]