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Rich Asplund

Sugar Prices Fall on a Slide in Crude Oil

Oil Thailand Brazil India Conab London NY Unica USDA

July NY world sugar #11 (SBN24) on Wednesday closed down -0.19 (-0.98%), and Aug London ICE white sugar #5 (SWQ24) closed down -1.00 (-0.18%).

Sugar prices Wednesday posted moderate losses. Wednesday's -3% slump in crude prices (CLM24) to a 1-1/2 month low undercut sugar prices. The weakness in crude oil weighs on ethanol prices and may prompt global sugar mills to divert more cane crushing to sugar production instead of ethanol, thus boosting sugar supplies.

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