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Barchart
Barchart
Rich Asplund

Sinking Crude Oil Prices Undercut Sugar Prices

Oil India ISMA ISO FAs USDA

May NY world sugar #11 (SBK26) on Monday closed down -0.18 (-1.15%), and May London ICE white sugar #5 (SWK26) closed down -2.70 (-0.60%).

Monday's plunge in crude oil prices (CLK26) by more than -9% sparked long liquidation in sugar futures.  The weakness in crude prices undercuts ethanol prices and may encourage the world's sugar mills to decrease ethanol production and boost sugar output.  

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