
July NY world sugar #11 (SBN24) today is up +0.31 (+1.65%), and Aug London ICE white sugar #5 (SWQ24) is up +6.80 (+1.24%).
Sugar prices today are moderately higher due to strength in crude oil prices. Crude oil (CLN24) today rallied to a 1-1/2 week high, which benefits ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.