Morning Call Jun 16th, 2026

NY raw sugar market remained directionless, with July 2026 dropping just 2 points to US$ 13.68 c/lb, marking its seventh consecutive session of losses. Macroeconomic factors were not enough to alter the prevailing apathy in the sugar market.
 

Brazil: the ex-mill ethanol market remained characterized by low liquidity and isolated transactions, pressured by advancing cane crushing and expectations of record ethanol production in the 26/27 crop.
 

Brazil: according to DATAGRO Line-up, ethanol exports gained momentum in June, with 155 million liters already shipped and another 96 million liters scheduled for loading, bringing the monthly total to 251 million liters (+87.5% YoY).
 

Brazil: among the shipments already completed in June, South Korea accounted for 64.7% of total exported volumes, followed by the Netherlands (20.0%) and South Africa (15.3%).
 

Brazil: despite the recovery in June, ethanol exports in 1H 2026 are expected to total 543 million liters (-28.9% YoY), reflecting the strong competitiveness of U.S. ethanol in the international market.
 

Brazil: sugar exports reached 1.603 mmt through the second week of June, with an average daily shipment pace of 178 k mt, 5.8% above the daily average recorded in June 2025.
 

CS Brazil: despite the lower sugar production mix in the region, ample product availability in the spot market and weaker demand for prompt shipments continue to pressure export premiums.
 

CS Brazil: VHP sugar premiums in Santos weakened to discounts ranging from 35 to 15 points for prompt shipments, while July-loading cargoes traded at discounts between 25 and 10 points.
 

India: the government approved the regulatory framework authorizing the use of pure ethanol as a transportation fuel, paving the way for the commercialization of vehicles powered exclusively by ethanol in the country.
 

Mexico: until June 6th, cumulative 25/26 crop cane crushing reached 48.6 mmt (+7.1% YoY), while sugar production totaled 5.24 mmt during the period (+10.5% YoY).
 

Mexico: agricultural yields reached 68.27 mt/ha (+6.7% YoY), while 19 of the country's 47 mills remain in operation, compared with only 6 units running at the same point of the 24/25 crop.