Sugar Prices Erase Early Gains as USDA Projects a Sugar Surplus in India

Sugar futures turned lower after an early advance, with May NY world sugar #11 down 0.08 (-0.54%) and Aug London ICE white sugar #5 down 4.50 (-1.01%). The move followed USDA comments that it expects a 2026/27 sugar surplus in India, a bearish supply signal for the market. The article is modestly negative for sugar prices, but the impact is likely limited unless the surplus estimate is revised materially higher.

Analysis

Sugar futures turned lower after an early advance, with May NY world sugar #11 down 0.08 (-0.54%) and Aug London ICE white sugar #5 down 4.50 (-1.01%). The move followed USDA comments that it expects a 2026/27 sugar surplus in India, a bearish supply signal for the market. The article is modestly negative for sugar prices, but the impact is likely limited unless the surplus estimate is revised materially higher.