Yesterday’s closing dated – 23/04/2025
◾London White Sugar #5 (SWQ25) – 503.30s (-2.50)
◾NYBOT Raw Sugar #11 (SBK25) – 17.94s (-0.05)
◾USD/BRL- 5.7185 (-0.0065)
◾USD/INR – 85.479 (+0.309)
◾Corn – 472-0s (-3-6)
◾Ethanol Chicago $/gal – 1.76000s (-0.01000)
◾Brent Crude – $66.12 /bbl (-1.32)
◾BSE Sensex – 80,116.49 (+520.90)
◾NIFTY50 – 24328.35 (+161.70)
May NY world sugar #11 (SBK25) Wednesday closed down -0.05 (-0.28%), and August London ICE white sugar #5 (SWQ25) closed down -2.50 (-0.49%).
Sugar prices Wednesday gave up an early advance and settled moderately lower after the USDA’s Foreign Agricultural Service (FAS) projected that Brazil’s 2025/26 sugar production would rise +2.3% y/y to 44.7 MMT from 43.7 MMT in the previous season.
Weakness in crude prices also weighed on sugar. Wednesday’s -2% fall in WTI crude oil (CLM5) undercuts ethanol prices and may prompt global sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.
