Sugar prices fell back on Thursday after both New York and London contracts rallied to 1.25-year nearest-futures highs on Wednesday. October NY world sugar #11 (SBV26) is down -0.23 (-1.37%), and October London ICE white sugar #5 (SWV26) is down -7.20 (-1.35%). The pullback came despite Czarnikow's report predicting a 2027/28 global sugar deficit of 2.9 MMT due to lower sugar cane and sugar beet plantings, with production forecast to fall -0.7% year-over-year to 177 MMT. Underlying support also came from S&P Global Energy data showing EU and UK sugar production set to decline to 14.98 MMT this year, the lowest in 11 years, and from Unica reporting Brazil Center-South June sugar production fell -26.3% year-over-year to 3.903 MMT.
