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Barchart
Barchart
Rich Asplund

Sugar Prices Fall Back on Crude Oil Weakness and Brazil Harvest Pressures

Oil Brazil El Nino London Ethanol USDA

Oct NY world sugar #11 (SBV23) on Monday closed -0.52 (-2.14%), and Oct London white sugar #5 (SWV23) closed -16.30 (-2.38%).

Sugar prices Monday closed lower after WTI crude oil fell more than -1% on Monday.  Weaker crude prices undercut ethanol prices and may prompt global sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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