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Barchart
Barchart
Rich Asplund

Slump in Crude Oil Weighs on Sugar Prices

Oil India ISMA ISO Brazil Thailand FAs The India Sugar Mill Association USDA

March NY world sugar #11 (SBH26) on Tuesday closed down -0.13 (-0.87%), and March London ICE white sugar #5 (SWH26) closed down -3.40 (-0.80%).

Sugar prices retreated on Tuesday due to a slump in crude oil prices.  WTI crude (CLF26) sank to a 4.75-year low on Tuesday, which undercuts ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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