Sugar Drops to 18-Month Low on Large Production in Top Exporter
- Brazil’s Center-South output jumped in second half of April
- Traders are betting that supplies will be ample this year
This article is for subscribers only.
Sugar dropped to an 18-month low in New York as a productive start to the season in Brazil, the world’s top exporter, is fueling bets that markets will remain well supplied this year.
Raw-sugar futures slipped as much as 3.8%. Prices touched the lowest since October 2022, before trimming losses. Brazil reported strong sugar cane crushing in the early stages of its new season, which kicked off in April. That’s supporting speculation over abundant supplies in the coming months.