REPORTS

USDA - At the close on October 8, NY #11 was trading at approximately 20.15 c/lb, while London #5 was at approximately 541.10 USD/metric ton. The daily pullback following the recent sharp rally does not mean that the underlying risk has disappeared; volatility on the price front has increased.

In addition to previous supply risks in Thailand and Brazil, India’s production falling below 30 million metric tons creates upward risks, particularly regarding white sugar availability and the white premium in the first half of 2027.