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Barchart
Barchart
Rich Asplund

Sugar Prices Consolidate Their Recent Rally

October NY world sugar #11 (SBV26) closed up +0.01 (+0.06%) on Monday, and October London ICE white sugar #5 (SWV26) closed up +1.70 (+0.32%).

Sugar prices finished slightly higher on Monday as they consolidated below last week’s significant highs. Sugar prices found support Monday after WTI crude oil prices (CLV26) rose to a 3.75-month high. Higher crude prices support ethanol prices and could prompt the world’s sugar mills to divert more cane crushing into ethanol production and less to sugar, curbing sugar supplies.

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