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Barchart
Barchart
Rich Asplund

Sinking Crude Oil Prices Weigh on Sugar

Oil India Ethanol ISO USDA Deficit Brazil FAs ISMA StoneX

October NY world sugar #11 (SBV26) on Tuesday closed down -0.03 (-0.21%), and October London ICE white sugar #5 (SWV26) closed down -1.60 (-0.35%).

Sugar prices slid to 1-week lows on Tuesday and settled lower amid the plunge in crude oil prices. WTI crude oil (CLU26) sank more than -4% on Tuesday, adding to Monday’s -7% plunge, which undercuts ethanol prices and may encourage sugar mills worldwide to divert less cane crushing toward ethanol production than sugar, thus boosting sugar supplies. Losses in sugar were contained after StoneX on Tuesday raised its 2026/27 global sugar deficit forecast to -1.7 MMT from a May estimate of -550,000 MT.

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