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Barchart
Barchart
Rich Asplund

Crude Oil Weakness Pressures Sugar Prices

Oil India Ethanol ISMA ISO FAs London NY USDA

May NY world sugar #11 (SBK26) on Wednesday closed down -0.23 (-1.48%), and May London ICE white sugar #5 (SWK26) closed down -6.40 (-1.43%).

Sugar prices tumbled to 2-week lows on Wednesday and settled sharply lower.  Wednesday's -1% decline in crude oil prices (CLK26). undercuts ethanol prices, potentially encouraging the world's sugar mills to increase sugar production at ethanol's expense, boosting sugar supplies.

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