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Barchart
Barchart
Rich Asplund

Sugar Prices Fall on Weak Crude Oil Prices and Slack Demand

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.

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