
May NY world sugar #11 (SBK26) today is up +0.28 (+2.02%), and Aug London ICE white sugar #5 (SWQ26) is up +5.90 (+1.38%).
Sugar prices are moving higher today, with NY sugar posting a 2.5-week high. Strength in gasoline prices is supportive for sugar, as gasoline (RBM6) rallied to a 3.75-year high today, boosting ethanol prices and potentially persuading the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.