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Barchart
Barchart
Rich Asplund

Sugar Prices Fall as Crude Oil Slumps

Oil India ISMA ISO Brazil Thailand FAs London NY The India Sugar Mill Association

March NY world sugar #11 (SBH26) on Thursday closed down -0.06 (-0.40%), and March London ICE white sugar #5 (SWH26) closed down -1.90 (-0.45%).

Sugar prices gave up early gains on Thursday and turned lower after crude oil prices plunged.  WTI crude (CLF26) tumbled to a 7-week low on Thursday, which undercuts ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.    

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