March NY world sugar #11 (SBH26) on Thursday closed down -0.18 (-1.23%), and May London ICE white sugar #5 (SWK26) closed up +0.80 (+0.20%). Sugar prices gave up an early advance on Thursday and settled mixed, with NY sugar falling from a 3-week high.  Sugar prices came under pressure on Thursday after the Financial Times reported that China is considering higher taxes on beverages with the highest sugar content, potentially reducing demand for sugar in China. More News from Barchart Signs of lower su ...

March NY world sugar #11 (SBH26) on Monday closed up +0.15 (+1.05%), and May London ICE white sugar #5 (SWK26) closed up +1.60 (+0.39%). Sugar prices rallied sharply on Monday, with NY sugar posting a 2.5-week high and London sugar posting a 1.5-week high.  Strength in the Brazilian real (^USDBRL) is bullish for sugar prices.  The real jumped to a 1.75-year high against the dollar on Monday, discouraging export sales from Brazil's sugar producers. More News from Barchart Sugar prices also have positive ...

March NY world sugar #11 (SBH26) today is up +0.08 (+0.56%), and May London ICE white sugar #5 (SWK26) is up +0.20 (+0.05%). Sugar prices are moving higher today, with NY sugar posting a 2.5-week high and London sugar posting a 1.5-week high.  Strength in the Brazilian real (^USDBRL) is bullish for sugar prices.  The real jumped to a 1.75-year high against the dollar today, discouraging export sales from Brazil's sugar producers. More News from Barchart Sugar prices also have positive carryover support ...

Core Viewpoint - Sugar prices are experiencing mixed trends, with New York sugar showing modest gains while London sugar has fallen to a 2.5-month low due to various factors including currency fluctuations and global production levels [1][2]. Group 1: Sugar Production and Export Trends - Brazil's cumulative sugar output for the 2025-26 season has increased by 0.9% year-on-year to 40.222 million metric tons (MMT), with a higher ratio of cane crushed for sugar [2]. - India's sugar output for the 2025-26 season has surged by 22% year-on-year to 15.9 MMT, prompting the Indian Sugar Mill Association to raise its production estimate to 31 MMT, an increase of 18.8% year-on-year [3]. - The Indian government is considering allowing additional sugar exports to alleviate a domestic supply glut, with a quota of 1.5 MMT set for the 2025-26 season [4]. Group 2: Market Outlook and Price Pressure - The global sugar surplus is projected to increase, with Covrig Analytics raising its estimate for the 2025-26 surplus to 4.7 MMT, which is expected to exert downward pressure on prices [5]. - Brazil's sugar production forecast has been raised to a record 45 MMT for the 2025-26 season, contributing to a bearish outlook for sugar prices [6].

Group 1: Sugar Price Movements - Sugar prices increased sharply on Friday, with March NY world sugar 11 closing up by 0.39 (+2.68%) and March London ICE white sugar 5 closing up by 10.20 (+2.44%) due to fund short covering ahead of a three-day weekend in the US [1] - On Thursday, NY sugar reached a one-month low, while London sugar fell to a two-month low, influenced by strong sugar production in India [2] Group 2: Production Reports - India's sugar production for the 2025-26 season is projected to rise to 15.9 million metric tons (MMT), reflecting a 21% year-on-year increase [2] - Brazil's cumulative sugar output for the 2025-26 season increased by 0.9% year-on-year to 40.158 MMT, with the ratio of cane crushed for sugar rising to 50.91% in 2025/26 from 48.19% in 2024/25 [3] Group 3: Market Outlook - The global sugar surplus outlook is negatively impacting prices, with Covrig Analytics raising its 2025/26 global sugar surplus estimate to 4.7 MMT from 4.1 MMT [5] - Future sugar supplies from Brazil are expected to decrease, with a projected decline of 3.91% in sugar production for 2026/27 to 41.8 MMT [6] - India's sugar production estimate for 2025/26 was raised to 31 MMT, an 18.8% year-on-year increase, which may enhance India's sugar export potential [7]

Core Insights - Sugar prices experienced mixed movements, with NY world sugar closing down slightly while London ICE white sugar saw a minor increase, influenced by a rally in the dollar index which pressured sugar futures [1] Group 1: Market Dynamics - Sugar prices initially rose due to expectations of index-related buying for annual commodity index rebalancing, with Citigroup projecting inflows of $1.2 billion into sugar futures contracts over the next week [2] - Last Monday, NY sugar reached a 2.5-month high based on expectations of reduced future sugar supplies from Brazil, with a forecasted production decrease of 3.91% to 41.8 million metric tons (MMT) for 2026/27 [3] - Sugar prices fell to two-week lows due to indications of increased sugar output in India, where production for 2025-26 surged by 25% year-on-year to 11.90 MMT [4] Group 2: Supply and Export Trends - India's food secretary indicated potential for additional sugar exports to alleviate domestic supply issues, with a quota allowing mills to export 1.5 MMT in the 2025/26 season [5] - Brazil's crop forecasting agency raised its sugar production estimate for 2025/26 to 45 MMT, contributing to a bearish outlook for sugar prices [6] - The cumulative sugar output in Brazil's Center-South region increased by 1.1% year-on-year to 39.904 MMT, with a higher ratio of cane crushed for sugar [6]

Core Insights - Sugar prices have recently increased, reaching one-week highs due to expectations of index-related buying for annual rebalancing, with projected inflows of $1.2 billion into sugar futures contracts from major commodity indexes [2] Group 1: Price Movements - March NY world sugar 11 is up +0.08 (+0.53%) and March London ICE white sugar 5 is up +2.00 (+0.47%) [1] - Sugar prices fell to two-week lows last Friday due to signs of stronger sugar output in India [5] Group 2: Supply Dynamics - The Brazilian real's recent strength is supportive for sugar prices as it discourages export sales, potentially reducing supplies [3] - Brazil's sugar production is expected to decline by -3.91% to 41.8 million metric tons (MMT) in 2026/27, with exports projected to fall -11% year-on-year to 30 MMT [4] Group 3: Indian Sugar Production - Indian sugar production for 2025-26 has increased by 25% year-on-year to 11.90 MMT, with the overall production estimate raised to 31 MMT, up +18.8% year-on-year [5] - The Indian government may permit additional sugar exports to alleviate domestic supply issues, allowing mills to export 1.5 MMT in the 2025/26 season [6]

Group 1: Sugar Price Movements - March NY world sugar 11 is up +0.25 (+1.69%) and March London ICE white sugar 5 is up +5.40 (+1.27%) due to recent strength in the Brazilian real, which discourages export sales from Brazil's sugar producers [1] - Sugar prices fell to 2-week lows last Friday on signs of stronger sugar output in India, with Indian sugar production for 2025-26 jumping 25% y/y to 11.90 MMT [2] - NY sugar matched a 2.5-month high on expectations of smaller future sugar supplies from Brazil, with consulting firm Safras & Mercado projecting a -3.91% decline in Brazil's sugar production for 2026/27 [4] Group 2: Indian Sugar Production and Exports - The India Sugar Mill Association (ISMA) raised its 2025/26 sugar production estimate to 31 MMT, up +18.8% y/y, while cutting its estimate for sugar used for ethanol production to 3.4 MMT, potentially boosting sugar exports [2] - India's food ministry announced it would allow mills to export 1.5 MMT of sugar in the 2025/26 season to alleviate domestic supply glut [3] Group 3: Brazilian Sugar Production Outlook - Conab raised its Brazil 2025/26 sugar production estimate to 45 MMT, indicating a bearish outlook for prices due to record sugar output [5] - Unica reported that Brazil's cumulative 2025-26 Center-South sugar output rose by +1.1% y/y to 39.904 MMT, with the ratio of cane crushed for sugar increasing to 51.12% in 2025/26 from 48.34% in 2024/25 [5]

Group 1: Sugar Price Movements - March NY world sugar 11 closed up +0.17 (+1.15%) and March London ICE white sugar 5 closed up +1.50 (+0.35%) on Wednesday, recovering from 1-week lows due to year-end fund short covering [1] - Sugar prices initially fell on Wednesday as the dollar index rose to a 1-week high, impacting most commodity prices including sugar [1] Group 2: Brazil's Sugar Production Outlook - Brazil's sugar production for 2026/27 is expected to decline by -3.91% to 41.8 million metric tons (MMT) from 43.5 MMT in 2025/26, with exports anticipated to fall -11% year-on-year to 30 MMT [2] - Conab raised its Brazil 2025/26 sugar production estimate to 45 MMT from a previous forecast of 44.5 MMT, indicating a bearish outlook for prices [5] - Brazil's cumulative 2025-26 Center-South sugar output through November increased by +1.1% year-on-year to 39.904 MMT, with the ratio of cane crushed for sugar rising to 51.12% in 2025/26 from 48.34% in 2024/25 [5] Group 3: India's Sugar Production and Export Potential - The India Sugar Mill Association (ISMA) raised its 2025/26 sugar production estimate for India to 31 MMT, an increase of +18.8% year-on-year, while cutting the estimate for sugar used for ethanol production to 3.4 MMT [3] - Indian sugar production from October 1 to December 31 jumped 24% year-on-year to 11.83 MMT [3] - India's government may permit additional sugar exports to alleviate a domestic supply glut, with a quota system introduced for sugar exports in the 2022/23 season [4]

Group 1: Sugar Price Movements - March NY world sugar 11 increased by +0.20 (+1.35%) and March London ICE white sugar 5 rose by +2.40 (+0.56%) due to year-end fund short covering [1] - Sugar prices initially fell due to a rise in the dollar index, which impacted most commodity prices [1] Group 2: Brazil's Sugar Production Outlook - Brazil's sugar production for 2026/27 is expected to decline by -3.91% to 41.8 million metric tons (MMT) from 43.5 MMT in 2025/26, with exports projected to fall -11% year-on-year to 30 MMT [2] - Conab raised Brazil's 2025/26 sugar production estimate to 45 MMT from 44.5 MMT, indicating a bearish outlook for prices [5] - Cumulative sugar output in Brazil's Center-South region increased by +1.1% year-on-year to 39.904 MMT through November 2025/26 [5] Group 3: India's Sugar Production and Export Potential - India's sugar production estimate for 2025/26 was raised to 31 MMT, reflecting an increase of +18.8% year-on-year, with a significant production jump of +24% year-on-year to 11.83 MMT from October 1 to December 31 [3] - The Indian government may permit additional sugar exports to alleviate domestic supply issues, with a quota of 1.5 MMT allowed for the 2025/26 season [4] - The reduction in sugar used for ethanol production in India to 3.4 MMT from 5 MMT may enhance export capabilities [3]