Morning Call Jun 09th, 2026

NY July 2026 raw sugar settled virtually unchanged on Monday, slipping 2 points to US$ 14.12 c/lb, amid a lack of meaningful developments in global market fundamentals.
 

Sugar market initially attempted to recover but lost momentum throughout the session, pressured by the strengthening of the U.S. dollar against the Brazilian Real. The U.S. currency rose 0.9% to R$ 5.1695/US$ PTAX, its highest level since March 31st.
 

India officially launched E85 fuel (85% ethanol and 15% gasoline), which will initially be available at around 50 fuel stations, with plans to expand to as many as 500 locations during 2026.
 

India: the long-term plan calls for E85 to be marketed at approximately 5,000 fuel stations by 2027. According to the government, the fuel is expected to be about INR 20/liter cheaper than E20 gasoline.
 

Brazil: the formation of two extratropical cyclones is expected to bring between 50 mm and 100 mm of rainfall to cane-growing areas in Paraná, São Paulo, and Mato Grosso do Sul through June 16th, potentially disrupting cane crushing operations.
 

Brazil: rainfall may also extend into Minas Gerais and southern Goiás, while some areas of São Paulo and Mato Grosso do Sul could receive accumulations exceeding 100 mm.
 

Indonesia imported 556 k mt of sugar in April (-3.0% YoY), bringing total imports since January to 1.392 mmt (+4.3% YoY), equivalent to 44.6% of the country's 2026 import quota.
 

Thailand was the leading origin of Indonesia’s sugar imports in April, supplying 519 k mt (93.3% of the total), up 59.0% YoY, followed by Brazil with just 33 k mt (-86.4% YoY).
 

Mexico: until May 30th, cane crushing reached 48.0 mmt in the 25/26 crop (+6.4% YoY), while sugar production totaled 5.2 mmt (+9.7% YoY).
 

Ukraine: according to the Ministry of Economy, beet planting for the 26/27 crop (Aug/Jul) has been completed, reaching 190 thousand hectares, equivalent to 96% of the planned area.