FX.co ★ Sugar Futures at 2020-Lows

US sugar futures slipped toward 14 cents per pound, their lowest level since October 2020, as prices remain under pressure from ample global supplies. Favorable growing conditions for both sugarcane and sugar beet in several key producing regions have boosted output and weighed on the market.

The outlook for a substantial global surplus in the 2025/26 crop year continues to cap prices, driven by higher production in India and Thailand, especially of white sugar, while worldwide consumption is projected to remain broadly unchanged. Analysts also anticipate another surplus in the 2026/27 season, though of a smaller magnitude, as leading producer Brazil is on track for another strong harvest. Copersucar expects Brazil’s sugarcane crop to rise to 620 million tons, up from 608 million tons in the current season.