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Rich Asplund

Sugar Posts Moderate Gains as Crude Oil Rallies

Oil India Brazil Ethanol London Thailand NY the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) Thursday closed up +0.12 (+0.54%), and December London ICE white sugar #5 (SWZ24) closed up +2.80 (+0.50%).

Sugar prices posted moderate gains on Thursday, supported by strength in crude oil. WTI crude (CLX24) rose more than +3% Thursday, which benefits ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

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