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Barchart
Barchart
Rich Asplund

NY Sugar Slightly Higher on Strength in Crude

NY India Oil Brazil ISMA London USDA

March NY world sugar #11 (SBH24) on Friday closed up +0.03 (+0.14%), and March London ICE white sugar #5 (SWH24) closed unchanged.

Sugar prices on Friday settled little changed.   Strength in crude oil supports sugar prices as WTI crude (CLG24) Friday rallied to a 1-week high.  Higher crude prices benefit ethanol and may prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

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