Sugar Futures at 3-Week High

2026-04-24 15:34 By Luisa Carvalho 1 min. read

Sugar futures in the US rose toward 14.9 US cents, the highest in three weeks, mainly on the back of elevated oil prices and forecasts of reduced output in the next season.

Persistent shipping disruptions from the Iran conflict have increased oil price volatility, potentially encouraging mills to divert more sugarcane to ethanol production.

Regarding market fundamentals, expectations of a sizeable surplus in 2025/26 continue to dominate, but as the season winds down, attention is shifting to 2026/27, with analysts still projecting a surplus, albeit smaller.

Trading firm Czarnikow has sharply reduced its estimate of the global sugar surplus for 2026/27 to 1.1 million tonnes from 3.4 million in February, citing El Niño risks to cane production in India, Thailand, and Brazil.

Meanwhile, market participants continued to monitor Brazil’s 2026/27 harvest, which began this month and is progressing, supported by drier weather across key producing regions.



News Stream
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