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ADM Investor Services reports sugar prices held above recent lows after Pakistan said its mills will not crush until next month unless exports of 400,000 tonnes are approved. It also notes Brazil's Center-South cane crush is expected to fall short, cutting 2026/27 sugar output by over 4 million tonnes, and that a strengthening El Niño is expected to hit West Africa cocoa and Indian and EU sugar output.
Lower Brazilian sugar output and a shift from ethanol to sugar tighten sugar and ethanol balances, while El Niño drought risks cocoa and sugar supply. Feed buyers see limited direct impact since sugar is not a feed commodity, though ethanol and corn-linked co-products could move.
admis.comADMIS Research TeamNov 13, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
