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Barchart
Rich Asplund

Strength in Crude Oil Lifts Sugar Prices

crude oil Oil USDA India Brazil Ethanol London Conab FAs ISO

October NY world sugar #11 (SBV25) today is up +0.12 (+0.76%), and October London ICE white sugar #5 (SWV25) is up +6.90 (+1.43%).

Sugar prices are climbing today due to a +2% jump in WTI crude oil (CLV25) prices.  Stronger crude prices benefit ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus reducing sugar supplies.

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