Sugar prices fell today due to expectations of abundant global supplies. StoneX projected a global sugar surplus of +2.8 MMT for the upcoming season, a switch from a deficit last season. Brazil’s higher sugar output and India’s potential diversion of sugar for ethanol production are contributing to the bearish outlook. The International Sugar Organization forecasts a global sugar deficit for the upcoming season, but projections show an increase in sugar production and consumption. The outlook for sugar exports from India and higher production in multiple countries, including Thailand and Brazil, are further dampening sugar prices.

Read more at Yahoo Finance: Sugar Continues to see Weakness on Outlook for Abundant Global Supplies