The Food and Agricultural Organization’s Food Price Indices through June are shown below.  Note the move in sugar since May; many of the reasons for this upward move have been discussed and anticipated in our weekly reports over the last few months.  Most recently, a widely distributed estimate from Canaplan for the Brazilian Centre-South crop has put the current crop at 520 mmt.  UNICA’s mid July estimate for the C-S region was 533+mmt. 

October sugar trading at 31.06 this morning (+4%)