REPORTS

Barchart - Sugar prices rallied sharply on Friday, with NY sugar climbing to a 2-week high and London sugar jumping to a 2.75-month high. Sugar prices are soaring amid concerns that weak monsoon rains in India will lower sugar yields and reduce the country’s sugarcane harvest, the world’s second-largest. India’s Meteorological Department reported on Friday that India’s cumulative monsoon rainfall was 42% below normal as of June 26.  India’s Earth Science Ministry warns that this year’s monsoon in India could be the weakest in 11 years. India’s monsoon season runs from June through September.