Sugar prices surged on Friday, with NY and London sugar reaching multi-week highs. The rally was spurred by a stronger Brazilian real, discouraging export sales and sparking short covering in sugar futures. Prices had fallen earlier due to increased production in India and Brazil, with record output forecasts in Brazil contributing to the bearish outlook. The International Sugar Organization predicted a surplus for 2025-26, driven by rising production in key countries like India, Thailand, and Pakistan. India’s larger sugar crop estimates and potential for increased exports are further pressuring prices. The USDA’s projections for global sugar production and consumption in 2025/26 point towards record highs, with Brazil and India expected to see significant increases in production. Thailand’s sugar production is also forecasted to rise, adding to the bearish sentiment in the sugar market.

Read more at Yahoo Finance: Sugar Prices Climb as the Brazilian Real Strengthens