
July NY world sugar #11 (SBN26) today is up +0.27 (+1.81%), and Aug London ICE white sugar #5 (SWQ26) is not trading with markets in the UK closed for the May Day holiday.
Sugar prices are sharply higher today for a second day, with NY sugar posting a 1-month high. Today's +3% surge in gasoline prices (RBM26) is bullish for sugar as stronger gasoline prices boost ethanol prices and could persuade the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.