Raw sugar futures on ICE traded at around 19.5 cents per lb, the lowest in three weeks, as supply worries momentarily wane across exporting countries. Data by industry group Unica showed that center-south Brazilian sugar mills produced 626 thousand tonnes of sugar in the first half of November, surpassing market expectations of 457.6 thousand. Consequently, 12.55 million tonnes of sugarcane were crushed in the same period, above market expectations of 9.4 million. At the same time, Indian mills produced 20.9 million tonnes of sugar from October 1st to November 15th, nearly 25% more than in the corresponding period of the last year, while operations started crushing earlier than usual to take advantage of recent high prices. Further output increases were consistent in North America, as the USDA upwardly revised Mexico’s sugar production forecast to 6.34 million tonnes during 2021/2022 (from 6.06 in the previous period), as higher precipitation alleviated lingering drought effects. .

Historically, Sugar reached an all time high of 65.20 in November of 1974. Sugar - data, forecasts, historical chart - was last updated on November of 2021.

Sugar is expected to trade at 20.22 Cents/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 22.26 in 12 months time.

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Sugar


Price Day Month Year
Soybeans 1,253.00 -12.7500 -1.01% 1.11% 5.21%
Wheat 830.00 -11.2500 -1.34% 9.25% 39.15%
Lumber 769.50 -22.00 -2.78% 22.14% 21.97%
Cheese 1.75 -0.0010 -0.06% -1.41% -28.12%
Palm Oil 4,849.00 -78.00 -1.58% -2.36% 45.27%
Milk 17.95 0.01 0.06% 0.50% -22.33%
Cocoa 2,340.00 -116.00 -4.72% -10.10% -22.90%
Cotton 116.60 -3.78 -3.14% 5.50% 63.01%
Rubber 226.60 -9.80 -4.15% 4.18% -6.56%
Orange Juice 124.20 -4.25 -3.31% 1.47% -3.50%
Coffee 245.45 -0.85 -0.35% 21.90% 105.57%
Oat 755.00 4.5000 0.60% 6.19% 165.38%
Wool 1,341.00 0 0% 0.60% 16.61%
Rice 14.29 -0.1700 -1.18% 7.48% 12.74%
Canola 1,039.80 6.40 0.62% 5.75% 78.35%
Sugar 19.40 -0.53 -2.66% -1.52% 30.90%
Tea 3.06 0 0% -0.97% 12.92%
Corn 586.25 7.0000 1.21% 5.20% 37.78%


Sugar
The Sugar No. 11 contract is the world benchmark contract for raw sugar trading and is available on The Intercontinental Exchange (ICE). The size of each contract is 112,000 pounds. The biggest producer and exporter of sugar in the world is Brazil (21% of total production and 45% of total exports). A significant amount of sugar is also produced in India, European Union, China, Thailand and the United States. The sugar prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.