France Faces Drought Threat to Sugar Beet Crops; No Rain Expected Through July 14

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According to France's Sugar Beet Growers Association, the country—Europe's largest sugar beet producer—is facing prolonged drought that threatens yields on July 1. France's meteorological agency forecasts no rainfall in northern sugar beet plains through at least July 14. Sugar prices hit a nine-and-a-half-month high on Wednesday amid drought concerns and El Niño weather patterns, reversing earlier declines when prices had fallen to five-year lows due to ample supplies.
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