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Barchart
Barchart
Rich Asplund

Sugar Prices Climb on Strength in Crude Oil

Oil India London Ethanol ISMA ISO FAs USDA

May NY world sugar #11 (SBK26) today is up +0.28 (+1.97%), and May London ICE white sugar #5 (SWK26) is up +11.40 (+2.76%).

Sugar prices are climbing today, with London sugar posting a 1-week high as higher crude oil prices encourage the world's sugar mills to boost ethanol production at the expense of sugar.   WTI crude (CLJ26) is up by more than +2% today, boosting ethanol prices and potentially prompting the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thereby boosting sugar supplies.  

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