May NY world sugar #11 (SBK25) today is down -0.44 (-2.25%), and May London ICE white sugar #5 (SWK25) is down -8.60 (-1.56%).
Sugar prices today are moderately lower as President Trump's reciprocal tariffs have led to risk-off sentiment in most asset markets. Also, today's -7% plunge in WTI crude oil (CLK25) to a 3-week low is weighing on sugar prices. Weakness in crude prices undercuts ethanol prices, which may prompt the world's sugar mills to divert more cane crushing to sugar production rather than ethanol, thus boosting sugar supplies.
