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Rich Asplund

Rising Crude Oil Prices Support Sugar

Oil India Ethanol ISO London USDA Brazil Deficit FAs ISMA

October NY world sugar #11 (SBV26) today is up +0.15 (+1.01%), and October London ICE white sugar #5 (SWV26) is up +3.70 (+0.79%).

Sugar prices are climbing today, supported by crude oil's strength. WTI crude oil (CLQ26) is up more than +2% today at a 5-week high, boosting ethanol prices and potentially persuading sugar mills worldwide to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

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