July NY world sugar #11 is down 0.02 points (-0.14%), while Aug London ICE white sugar #5 has increased by 0.50 points (+0.11%). Sugar prices are experiencing mixed movements, driven by recent dollar weakness that has spurred short-covering in futures. A notable drop of 3% in crude oil prices is exerting additional pressure on sugar, as low ethanol prices may lead sugar mills to prioritize sugar production over ethanol, potentially increasing sugar supply.
Data from Unica indicates that Brazil’s 2026/27 sugar production rose 55.3% year-on-year to 2.475 million metric tons (MMT), bolstered by improved yields. Concurrently, Thailand’s sugar exports increased by 29% year-on-year to 1.6 MMT during January to April 2026. Despite this, concerns arise from a projected El Niño event, which could disrupt production due to decreased rainfall in major sugar-producing regions, including Brazil and India. NOAA estimates an 82% probability of El Niño conditions emerging between May and July, with a potential “Super El Niño” also possible.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
