
May NY world sugar #11 (SBK25) Tuesday closed down -0.12 (-0.66%), and May London ICE white sugar #5 (SWK25) closed down -6.80 (-1.30%).
Sugar prices Tuesday extended their week-long slide to 3-week lows. Weakness in crude prices weighed on sugar after WTI crude (CLJ25) fell to a 2-3/4 month low Tuesday. Weaker crude prices undercut ethanol prices and may prompt global sugar mills to divert cane crushing toward sugar production rather than ethanol, boosting sugar supplies.