White sugar steadies off fresh 5-year low; cocoa slides

White sugar futures on ICE steadied on Tuesday, having hit five-year lows in the previous session, as investors weighed improved output signals in Brazil against relief over the expected imminent end of the US government shutdown.

- 

SUGAR: White sugar was little changed at $407.90 a metric ton after touching its lowest since December 2020 on Monday at $406.40.

Against that, though, sugar output in top grower Brazil’s centre-south region is expected to increase by 7.8% in the second half of October, an industry survey showed.

Raw sugar settled up 0.05 cent or 0.4% to 14.25 cents per Ib, pulling away from last week’s five-year low of 14.04 cents.