Sugar prices rose to 5-week highs after StoneX lowered its Brazil sugar production estimate to 41.5 MMT, boosting March NY and London ICE sugar futures. India’s potential ethanol price increase could divert cane from sugar production. ISO predicts a 1.625 MMT sugar surplus in 2025-26, impacting global sugar prices.

Brazil’s record sugar output forecast is bearish for sugar prices, with Conab raising its 2025/26 production estimate to 45 MMT. India’s larger sugar crop estimate and potential exports also weigh on sugar prices. Thailand projects a 5% y/y increase in sugar production, adding to global supply concerns.

Global sugar production is expected to hit a record high in 2025/26, leading to an increase in ending stocks. USDA forecasts show Brazil and India leading the production surge. While sugar prices have seen recent gains, the outlook for increased global supply continues to put pressure on prices.

Read more at Yahoo Finance.: Sugar Prices Climb as StoneX Cuts Its Brazil Sugar Production Estimate