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Rich Asplund

Crude Oil Strength Lifts Ethanol and Sugar Prices

crude oil Oil Ethanol India USDA ISO Thailand Brazil Covrig Analytics FAs

July NY world sugar #11 (SBN26) today is up +0.02 (+0.14%), and Aug London ICE white sugar #5 (SWQ26) is up +0.30 (+0.07%).

Sugar prices are slightly higher today amid strength in crude oil. WTI crude oil (CLN26) is up more than +1% today, boosting ethanol prices that could prompt the world’s sugar mills to divert more cane crushing to ethanol production rather than sugar, thus curbing sugar supplies.

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