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Barchart
Barchart
Rich Asplund

Sugar Prices Edge Higher on the Surge in Crude Oil

Oil India NY USDA Ethanol ISO Brazil Deficit FAs London

October NY world sugar #11 (SBV26) today is up +0.07 (+0.46%), and Aug London ICE white sugar #5 (SWQ26) is up +5.10 (+1.07%).

Sugar prices are climbing today, with NY sugar posting a 1.75-month high. Today’s +7% surge in WTI crude oil prices (CLQ26) is boosting sugar prices. Stronger crude prices benefit ethanol prices and could persuade the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

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