REPORTS

Barchart - Sugar prices settled sharply higher on Wednesday, with NY sugar posting a 1-week high. Short covering emerged in sugar futures on Wednesday on signs that India may export less sugar than initially expected, after Bloomberg reported that India's food ministry is considering a proposal to allow sugar mills to export 1.5 MMT in the 2025/26 season, below earlier estimates of 2 MMT. India introduced a quota system for sugar exports in 2022/23 after late rains reduced production and limited domestic supplies.