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Sugar Futures Trading Higher on Tight Supplies

October Sugar is trading at 20.57, up 0.29 cents/lb. March Sugar is trading at 20.74, up 0.29 cents/lb.

Sugar futures are trading higher after Monday’s firm trading session.

Trading is expected to be choppy on both sides of unchanged.

Talk about Brazil’s harvest and global sugar supplies has kept both buyers and sellers active.

Chatter about possible flooding problems in China is showing up. China’s sugar production for the 2015 to 2016 season totaled 8.702 million tonnes, down 17.6 percent from a year ago.

India’s sugar mill association is forecasting around a seven percent decline in 2016 to 2017 sugar production due to output falls in the states of Maharashtra and Karnataka.

The European Union 2016 to 2017 sugar production is estimated by the street to rise about 10 percent from last season’s ten-year low in production.

Yahoo News

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