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Barchart
Barchart
Rich Asplund

Slumping Crude Oil Undercuts Ethanol and Sugar Prices

July NY world sugar #11 (SBN26) today is down -0.25 (-1.67%), and Aug London ICE white sugar #5 (SWQ26) is up +0.10 (+0.02%).

Sugar prices gave up an early advance today and are trading mixed. Sugar prices came under pressure after crude oil prices (CLN26) plunged by more than -5% today, which undercuts ethanol prices and could persuade global sugar mills to divert more cane crushing to sugar production rather than ethanol, boosting sugar supplies.

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