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Barchart
Rich Asplund

Sugar Prices Fall as Crude Oil Plunges

Oil India ISO Ethanol London FAs ISMA NY USDA

May NY world sugar #11 (SBK26) today is down -0.29 (-1.99%), and May London ICE white sugar #5 (SWK26) is down -6.40 (-1.49%).

Sugar prices extended their week-long slide today, falling to 3-week lows.  Today's -16% plunge in crude oil prices (CLH26) is weighing on sugar prices as weak crude prices undercut ethanol prices, potentially encouraging the world's sugar mills to increase sugar production at the expense of ethanol, thus boosting sugar supplies.  

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