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Barchart
Barchart
Rich Asplund

Sugar Prices Fall as Crude Oil Gives Back Some Gains

Oil India Deficit USDA Brazil Thailand Covrig Analytics FAs ISO London

October NY world sugar #11 (SBV26) is down -0.60 (-3.02%), and October London ICE white sugar #5 (SWV26) is down -15.30 (-2.84%).

Sugar prices are trading lower due to today’s decline of more than -2% in WTI crude oil prices, which gave back part of Thursday’s +6.7% surge to a 3.5-month high. Lower crude prices undercut ethanol prices and could prompt the world’s sugar mills to divert less cane crushing to ethanol production and more to sugar, boosting sugar supplies.

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