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deficit in 2024-25.  ISO said the surplus is being driven by increased sugar production in India, Thailand, and Pakistan.  In August, ISO had previously forecast a 231,000 MT deficit for the 2025-26 marketing year.  ISO is forecasting a +3.2% y/y rise in global sugar production to 181.8 million MT in 2025-26.What Spiked the Soybean Market - Again?Will Markets Be Wild Again This Week?Coffee Prices See Support as Substantial Tariffs Remain on Brazilian CoffeeGet exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.Sugar prices rallied to 3-week highs last Friday amid tighter supplies from India.  India's food ministry said last Friday that it will allow mills to export 1.5 MMT of sugar in the 2025/26 season, less than earlier estimates of 2 MMT.  India introduced a quota system for sugar exports in 2022/23 after late rain reduced production and limited domestic supplies.The outlook for robust global sugar supplies has hammered sugar prices over the past month.  Last Monday, London sugar posted a new 4.75-year nearest-futures low, and last Thursday, NY sugar prices slumped to a 5-year nearest-futures low, mainly due to higher sugar output in Brazil and talk of a global sugar surplus.  Sugar trader Czarnikow on Nov 5 boosted its global 2025/26 sugar surplus estimate to 8.7 MMT, up +1.2 MMT from a September estimate of 7.5 MMT.The outlook for record sugar output in Brazil is bearish for prices.  Conab, Brazil's crop forecasting agency on November 4 raised its Brazil 2025/26 sugar production estimate to 45 MMT from a previous forecast of 44.5 MMT.  Unica recently reported that Brazil's Center-South sugar output in the second half of October rose by +16.4% y/y to 2.068 MT.  Also, the percentage of sugarcane crushed for sugar by Brazil's sugar mills in the second half of October increased to 46.02% from 45.91% the same time last year.  In addition, cumulative 2025-26 Center-South sugar output through October rose +1.6% y/y to 38.085 MMT.Signs of a larger sugar crop in India, the world's second-largest producer, are undercutting prices after the India Sugar Mill Association (ISMA) last Tuesday raised its 2025/26 India sugar production estimate to 31 MMT from an earlier forecast of 30 MMT, up +18.8% y/y.  The ISMA also cut its estimate for sugar used for ethanol production in India to 3.4 MMT from a July forecast of 5 MMT, which may allow India to boost its sugar exports.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,642.75 +3.00 (+0.05%)Dow Futures46,194.00 +10.00 (+0.02%)Nasdaq Futures24,598.50 +2.75 (+0.01%)Russell 2000 Futures2,357.10 +1.40 (+0.06%)VIX24.69 +2.31 (+10.32%)Gold4,090.00 +23.50 (+0.58%)PortfolioSign in to access your portfolioSign inTop gainersONDS Ondas Holdings Inc. 7.84 +1.59 (+25.34%)DGNX Diginex Limited 16.20 +2.61 (+19.21%)LGN Legence Corp. 44.93 +4.81 (+11.99%)TMC TMC the metals company Inc. 5.42 +0.54 (+10.95%)SRRK Scholar Rock Holding Corporation 39.81 +3.34 (+9.14%)Top losersNICE NICE Ltd. 105.65 -15.21 (-12.58%)KLAR Klarna Group plc 31.63 -3.25 (-9.32%)PACS PACS Group, Inc. 14.43 -1.27 (-8.09%)SNDK Sandisk Corporation 244.93 -20.95 (-7.88%)GPCR Structure Therapeutics Inc. 34.50 -2.94 (-7.85%)Most activeNVDA NVIDIA Corporation 181.36 -5.24 (-2.81%)ONDS Ondas Holdings Inc. 7.84 +1.59 (+25.34%)PLUG Plug Power Inc. 2.1400 +0.0550 (+2.64%)OPEN Opendoor Technologies Inc. 7.52 -0.32 (-4.08%)BBAI BigBear.ai Holdings, Inc. 5.98 +0.41 (+7.36%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersPLUG Plug Power Inc. 2.1400 +0.0550 (+2.64%)TMC TMC the metals company Inc. 5.42 +0.54 (+10.95%)OLMA Olema Pharmaceuticals, Inc. 20.14 +11.62 (+136.39%)NET Cloudflare, Inc. 196.53 -5.72 (-2.83%)HD The Home Depot, Inc. 336.48 -21.55 (-6.02%)Top economic events