NY sugar prices saw a slight decrease, while London sugar prices rose. Sugar prices rallied due to smaller supplies from Brazil, potentially reducing Brazil’s sugarcane production below forecasts. Funds increased their net-short positions, leading to a possible short-covering rally. India may export more sugar due to favorable monsoon rains and increased production estimates. Brazil and Thailand are also projected to see higher sugar production, impacting global sugar prices. The International Sugar Organization forecasted a global sugar deficit, tightening the market.

Read more at Yahoo Finance: Sugar Prices Fall Back After 3-Session Rally