Brazil & StoneX Group Inc.

Brazil: Brazil's sugar production is projected to be lower due to mills allocating more sugarcane to ethanol production, impacting global sugar supplies.

StoneX Group Inc.: StoneX Group Inc. predicted a deficit in the global sugar market for the 2026/27 season, supporting the upward trend in sugar prices.

Brazil: Brazil's projected record coffee crops and increased exports are a primary bearish factor for global coffee prices. The weakness of the Brazil — Brazilian real also encourages coffee exports.

StoneX Group Inc.: StoneX Group Inc. raised its Brazil 2026/27 coffee production estimate and projected a significant global coffee surplus for 2026.

Brazil: Brazil's coffee exports have been smaller, supporting Coffee prices, while expectations of a larger 2026/27 coffee crop are negative for Coffee prices. The strength of the Brazil — Brazilian real also discourages Coffee export sales.

StoneX Group Inc.: StoneX Group Inc. raised its Brazil 2026/27 Coffee production estimate and projected an expansion of the 2026 global Coffee surplus, which is negative for Coffee prices.