
October NY world sugar #11 (SBV24) Monday closed up +0.17 (+0.89%), and December London ICE white sugar #5 (SWZ24) closed down -4.90 (-0.93%).
Sugar prices Monday settled mixed, with NY sugar posting a 1-week high. Sugar prices found support Monday from a +2% rally in crude oil prices (CLV24) to a 1-week high. Last Tuesday, sugar prices fell to a 3-week low after crude oil plunged to a 16-month low. Weaker crude oil prices undercut ethanol prices and may prompt the world's sugar mills to divert more cane crushing to sugar production rather than ethanol, thus boosting sugar supplies.