Sugar prices rallied on continued weather-related supply concerns, with October NY world sugar #11 up 2.38% and October London ICE white sugar #5 up 1.99%. Drought and hot weather in Europe are expected to cut EU and UK sugar production to 14.98 MMT this year, the lowest in 11 years, according to S&P Global Energy. India's cumulative monsoon rainfall was 12% below normal as of August 13, and Brazil's Center-South June sugar production fell 26.3% year-over-year to 3.903 MMT. Analysts including Covrig Analytics, Green Pool Commodity Specialists, StoneX, and Czarnikow have shifted to projecting global sugar deficits for 2026/27, citing El Niño risks and lower output in major producers.
