REPORTS

Barchart - Sugar prices settled higher on Tuesday amid an outlook for tighter global supplies. StoneX on Tuesday predicted that the global sugar market will fall into a -550,000 MT deficit during the 2026/27 season from a 2.3 MMT surplus in the 2025/26 season.

On Monday, Citigroup projected Brazil's 2026/27 sugar production at 39.50 MMT, well below Conab's estimate of 43.95 MMT, citing mills' actions in Brazil to allocate more sugarcane to ethanol production due to soaring gasoline prices. Also, Citigroup said a potentially strong El Niño weather pattern this year could have "a significant impact" on sugar production in India and Thailand over the next 6 to 12 months.