Sugar Futures Move Higher

2026-02-03 15:30 By Luisa Carvalho 1 min. read

Sugar futures in the US rose to around 14.6 cents per pound, rebounding from recent three-month lows of 14.3, as traders weighed the prospect of a smaller global surplus in the coming season.

Claudiu Covrig, lead agriculture analyst at Covrig Analytics, told the Dubai Sugar Conference that the global surplus is forecast to narrow to 1.4 million metric tons in the 2026/27 season, down sharply from 4.7 million in 2025/26, on subdued exports from top grower India.

Meanwhile, sugar production in Brazil’s key Centre-South region is expected to edge higher to 40.9 million metric tons in 2026/27, from 40.77 million in 2025/26, according to Brazil-based Datagro.

On January 30, StoneX said it expects the 2025/26 global sugar market to end with a 2.9-million-ton surplus, down 800,000 tons from its November forecast.

This reverses the 3.14-million-ton deficit recorded in the previous cycle and reinforces expectations of a well-supplied market over the near term.



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