1224 ET - Sugar futures on the ICE have been showing big swings in trading this year, with the contract right now back to the year high of roughly 20 cents a pound in today's session. The most-active contract has oscillated 5%-6% in either direction this year, with sugar climbing 11% since early March. Speculators were the source of pressure for sugar in early March, says Ole Hansen of Saxo Bank in a note. "The latest rebound is being supported by the prospect of tightening fundamentals with concerns emerging about export levels from Brazil and India, the world's top growers," says Hansen. He also adds that the ongoing tariff spat between the U.S. and Mexico threatens to cut U.S. sugar shipments to Mexico to its lowest in 17 years. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

March 21, 2025 12:24 ET (16:24 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.