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Barchart
Barchart
Rich Asplund

Slumping Crude Oil Pressures Sugar Prices

Oil India ISMA ISO FAs USDA

May NY world sugar #11 (SBK26) on Monday closed down -0.18 (-1.25%), and May London ICE white sugar #5 (SWK26) closed down -1.30 (-0.31%).

Sugar prices were under pressure on Monday from weakness in crude oil prices.  WTI crude (CLJ26) fell by more than -4% on Monday, undercutting ethanol prices and potentially prompting the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thereby boosting sugar supplies.  

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