Morning Call Jul 09th, 2026

NY raw sugar market settled its second consecutive session trading sideways, with October 2026 slipping 3 points to US$ 15.11 c/lb, as traders continue to monitor weather developments across major producing countries.
 

India: the monsoon remains delayed, covering 95% to 97% of the country as of July 8th, behind last year's pace, when it had reached the entire country by June 29th.
 

India: rainfall strengthened during the first week of July, with average precipitation across cane regions reaching 101.1 mm, 67.8% above the historical average, driven mainly by western India.
 

India: over the next 10 days, heavy rainfall is expected along the west coast and across the northern and east-central regions, while the south-central region is forecast to receive more modest accumulations of 20 mm to 30 mm.
 

Thailand continues to enjoy favorable conditions for cane, with well-distributed rainfall and forecasts calling for accumulations above 50 mm, while the strengthening El Niño increases climate risks primarily in India and Indonesia.
 

Brazil: sugar shipment nominations pace increased to 43 vessels, scheduled to ship 1.888 mmt (-29.6% YoY). China (20.9%) remains the leading destination, followed by Algeria (9.4%) and Canada (8.1%), according to DATAGRO Line-up.
 

Brazil: waiting time for berth at CLI 16/17 terminal, Santos Port, declined from 9 to 5 days, below the 14 days recorded during the same period in 2025.
 

Brazil: the Federal Government postponed for the third time the CNPE meeting that was expected to evaluate the rise in the mandatory anhydrous ethanol blend in gasoline from E30 to E32, a measure with potential to raise annual ethanol demand by approximately 930 million liters.
 

Brazil: minister Márcio Rosa said the government continues to negotiate with the U.S. to avoid new tariffs on Brazilian products, while maintaining its position of excluding ethanol from the talks in order to preserve the competitiveness of Brazil's sugar-energy industry.
 

U.S.: agricultural and biofuel industry groups called for a 25% reciprocal tariff on Brazilian ethanol and criticized Brazil's certification rules during the Section 301 investigation.