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Rich Asplund

Sugar Prices Climb as Crude Oil Surges

Oil India ISMA ISO Brazil Thailand FAs London USDA

May NY world sugar #11 (SBK26) today is up +0.06 (+0.43%), and May London ICE white sugar #5 (SWK26) is up +6.60 (+1.62%).

Sugar prices are climbing today, posting 1-month highs amid a surge in crude prices. WTI crude (CLJ26) soared to an 8.25-month high today, which benefits ethanol prices and may prompt the world's sugar producers to divert more cane crushing toward ethanol production rather than sugar, thus reducing sugar supplies.

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