March NY world sugar #11 (SBH26) today is up +0.25 (+1.60%), and December London ICE white sugar #5 (SWZ25) is up +3.30 (+0.74%).
Sugar prices recovered from early losses today and moved higher as a weaker dollar spurred some short covering in sugar futures. Earlier today, NY sugar fell to a 3-week low, and London sugar dropped to a 4.25-year nearest-futures low. The outlook for robust global sugar supplies is weighing on prices. On Monday, BMI Group projected a global 2025/26 sugar surplus of 10.5 MMT, and last Tuesday, Covrig Analytics projected a global 2025/25 sugar surplus of 4.1 MMT.
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Sugar prices have been under pressure over the past seven months, with NY sugar posting a 4.5-year nearest-futures low (SBV25) last month on signs of higher sugar output in Brazil. On…
