Unfavorable weather tied to El Niño significantly curtailed Brazilian cane processing, triggering a sharp year-over-year production decline in the center-south region during the first half of October. In contrast, coffee contracts weakened throughout the month as exchange-certified reserves showed signs of recovery and overall supplies expanded. Meanwhile, cocoa prices retreated under weak consumer holiday demand, even as future production forecasts for West Africa were lowered due to moisture stress.
Key points
Heavy rains in Brazil severely restricted harvesting operations and reduced cane sugar co…: Heavy rains in Brazil severely restricted harvesting operations and reduced cane sugar content throughout the month.
Coffee market pressures mounted as pending grading stocks for ICE-certified arabica expan…: Coffee market pressures mounted as pending grading stocks for ICE-certified arabica expanded to nearly 44,000 bags.
Analysts reduced long-term Ivory Coast harvest estimates for the 2026/27 season by 40,000…: Analysts reduced long-term Ivory Coast harvest estimates for the 2026/27 season by 40,000 tons because of persistent moisture stress.
Sources checked by our analysis pipeline: 1
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NEW YORK, Oct 30 (Reuters) - Raw sugar futures on ICE fell on Friday, as the Brazilian real weakened and the market consolidated following three consecutive sessions of gains linked to rains in top grower Brazil. Sugar posted a 9.8% gain in October.
A weaker real encourages mills, farmers and exporters in Brazil to sell dollar-priced futures because it raises their returns in local currency terms.
SUGAR
* Raw sugar settled down 0.11 cent, or 0.6%, at 19.36 cents per lb.
* "The trade is weighing the collapse of the Brazilian real this week against more evidence of problems with this year’s production because of too much rain," said broker ADMIS in a note.
* Dealers noted heavy selling from Brazilian mills on ICE, as they lock in currency gains for their future sugar exports.
* Sugar production in Brazil's key center-south region fell 27.1% in the first half of October from a year earlier to 1.87 million metric tons, the Agriculture Ministry said on Wednesday.
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