January 19, 2015
Sugaronline
White sugar futures on ICE eased under pressure from a weaker oil market on Monday, according to Reuters.
The U.S. softs markets were shut on Monday for the Martin Luther King Day holiday.
March white sugar was down US$2.40 or 0.6% at US$396.50 a tonne at 1236 GMT.
"We expect sugar prices to remain depressed in the coming months as Brazilian supply proves more than adequate to cover limited incremental demand," Morgan Stanley said in a commodities market report.
"However, in 2015, a shrinking global surplus, coupled with limited reinvestment in cane plantings, should conspire to lift prices year-on-year."
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