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July NY world sugar #11 on Thursday closed up +0.17 (+1.15%), and Aug London ICE white sugar #5 closed up +4.00 (+0.91%).
Sugar prices rallied on Thursday amid growing worries that dry weather from an El Niño weather event could disrupt global sugar production. The emergence of an El Niño is likely to curb rainfall in Brazil, India, and Thailand, the world’s three largest sugar-producing regions. The US National Oceanic and Atmospheric Administration (NOAA) estimates a 82% probability that El Niño conditions will emerge between May and July and persist through the end of the year, with a 67% chance of a “Super El Niño.”
More details: https://www.barchart.com/story/news/2070549/sugar-prices-climb-on-global-weather-concerns