REPORTS

Barchart - Sugar prices posted moderate gains on Friday as below-normal monsoon rain in India sparked short covering in sugar futures. The Indian Meteorological Department reported that India received 64.5 mm of rain over the first 18 days of June, compared with the long-term average of 80.6 mm.  

This past week, sugar prices have been under pressure by news of increased sugar output in Brazil. Unica reported last Friday that Brazil's sugar production for the 2024/25 crop year through May was up +11.8% y/y at 7.837 MMT. Also, the percentage of Brazil's 2024/25 sugar cane crop crushed for sugar rose to 47.88% from 46.68% last year.