Improvement in Indian Monsoon Rains Hammers Sugar Prices

Sugar futures extended this week’s selloff, with Oct NY world sugar #11 down 2.42% and Oct London ICE white sugar #5 down 1.39% to 2.5-week lows. The move is attributed to improved India monsoon rains, which increases near-term supply expectations and pressures prices.

Analysis

Sugar futures extended this week’s selloff, with Oct NY world sugar #11 down 2.42% and Oct London ICE white sugar #5 down 1.39% to 2.5-week lows. The move is attributed to improved India monsoon rains, which increases near-term supply expectations and pressures prices.