NY sugar and London white sugar close higher as WTI climbs more than 2% to a five-week high
AI Market Summary
Sugar prices settled higher, primarily on stronger WTI crude lifting ethanol economics and encouraging mills—especially in Brazil—to divert more cane toward ethanol, tightening sugar supply. Major forecasters (Czarnikow, ISO) have shifted 2026/27 expectations toward deficit amid lower sugar mix in Brazil and renewed weather risk. India's monsoon remains below normal, and a potentially strong El Niño could pressure output across key origins.
Impact level
● Medium
Affected assets
NCCOSUGAR2USD/USDT-0.27%
AI Insight · NCCOSUGAR2USD/USDTAI Insight
▲ Bullish
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International sugar prices rose on Tuesday, with October NY world sugar #11 up 0.40% and October London ICE white sugar #5 up 0.45%. The gains followed a more than 2% jump in WTI crude to a five-week high, which lifted ethanol prices and could prompt mills to divert more cane toward ethanol, tightening sugar supplies. Czarnikow and the International Sugar Organization have both cut their 2026/27 global sugar balance outlooks from surplus to deficit. In Brazil, the share of sugarcane used for sugar fell to 41.42%, while India’s monsoon remains weak and an El Niño could disrupt production in major growing regions.
