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Neutral: Sugar #11 July 2026 contract rose from 13.97 to 14.95 cents/lb as Brazilian mills shifted cane toward ethanol production amid favorable ethanol economics and expected E32 blend mandate, with speculative fund repositioning and elevated white sugar premium adding support.
Sugar prices fell as ethanol weakness could incentivize mills to divert more cane toward sugar production rather than ethanol, increasing supply pressure.
Sugar #11 July 2026 contract rose from 13.97 to 14.95 cents/lb as Brazilian mills shifted cane toward ethanol production amid favorable ethanol economics and expected E32 blend mandate, with speculative fund repositioning and elevated white sugar premium adding support. Translated
Brazil's government is considering increasing ethanol blend to E32, which would boost anhidro ethanol demand by approximately 850 million liters annually and help absorb over 4 billion liters of additional production expected this harvest season. Translated
Sugar prices dropped sharply, down around 6% intraday, tracking softer crude oil prices amid signs of progress towards a US-Iran deal that improved risk appetite and eased fears of a broader energy shock.
International Sugar Council raw sugar weekly average price at 14.43 cents/lb ($318/ton), up 4.9% week-over-week but down 17.9% year-over-year. Translated
The EU-Mercosur trade agreement entered into force on May 1, 2026, opening the EU market to Paraguay; the country is developing sugar and biodiesel quota allocation mechanisms with the private sector. Translated
Chile's largest sugar company Iansa will stop purchasing local sugar beets, with industry warning this could end Chile's sugar industry as cane has lower production costs. Translated
Conab forecasts Brazil's 2026/27 sugarcane harvest at 709.1 million tonnes, with Southeast production up 6.8% to 459.1 million tonnes, representing a significant production increase that would pressure sugar prices lower. Translated
India's CACP recommended ethanol price increases following a sugarcane FRP hike to 365 rupees/quintal for the 2026-27 season, citing that ethanol prices from sugarcane juice have remained nearly flat while FRP rose, putting pressure on sugar mills. Translated
Alagoas sugarcane producers delivered demands to the state finance secretary seeking support, as the 2025/26 harvest saw losses exceeding 20% due to adverse weather with insufficient rainfall, maintenance difficulties, price retraction, and rising production costs. Translated
Sugar futures fell sharply on both NY and London exchanges, with raw sugar down 3.64% on the July contract, as the advancing Brazilian harvest and falling oil prices increased expectations of greater global sugar supply. Translated
Indonesian legislator Budi Sulistyono urges government to intensify market operations through Bulog to stabilize prices of basic goods including sugar, as the weakening rupiah threatens to push up import-dependent commodity prices. Translated