
October NY world sugar #11 (SBV25) on Tuesday closed up +0.16 (+0.97%), and October London ICE white sugar #5 (SWV25) closed up +0.50 (+0.11%).
Sugar prices settled higher for a second day Tuesday, with NY sugar posting a 1-week high. Strength in crude prices is supporting gains in sugar after WTI crude oil (CLU5) surged more than +3% Tuesday to a 2-week high, which benefits ethanol prices and may prompt the world's sugar mills to divert cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.