Forecasts for Record Global Sugar Production Weigh on Prices

Sugar futures fell to 1-week lows on Monday, with July NY world sugar #11 down 0.07 cents, or 0.47%, and August London ICE white sugar #5 down $2.00, or 0.46%. Prices weakened after the International Sugar Organization forecast a record global sugar crop, implying looser supply and a more bearish setup for the market.

Analysis

Sugar futures fell to 1-week lows on Monday, with July NY world sugar #11 down 0.07 cents, or 0.47%, and August London ICE white sugar #5 down $2.00, or 0.46%. Prices weakened after the International Sugar Organization forecast a record global sugar crop, implying looser supply and a more bearish setup for the market.