Sugar prices surged to 5-week highs on Wednesday due to StoneX reducing its Brazil 2026/27 Center-South sugar production estimate to 41.5 MMT. India’s potential boost in ethanol price for gasoline blending may reduce sugar supplies. However, ISO forecasts a 1.625 million MT sugar surplus in 2025-26, driven by increased production in India, Thailand, and Pakistan. Brazil’s record sugar output is bearish for prices, with Conab raising its 2025/26 sugar production estimate to 45 MMT. India’s Sugar Mill Association forecast a 31 MMT sugar production, while Thailand’s sugar crop is expected to increase by 5% y/y. Global sugar production is projected to reach record highs, negatively impacting prices.

Read more at Yahoo Finance: Sugar Prices Jump on Signs of Smaller Brazil Sugar Output