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Rich Asplund

Sugar Prices Finish Sharply Higher as Crude Oil Surges

India crude oil Oil Deficit USDA Brazil NY Thailand Covrig Analytics European Union

October NY world sugar #11 (SBV26) closed up +0.30 (+1.66%) on Wednesday, and October London ICE white sugar #5 (SWV26) closed up +15.50 (+2.99%).

Sugar prices settled sharply higher on Wednesday on the +3% surge in crude price (CLV26) to a 3.25-month high. Higher crude prices support ethanol prices and could prompt the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, reducing sugar supplies.

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We Got This Covered

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'Hail Satan' Erupts at Iowa City Council Meeting as Pastor Demands 'Curse' Be Reversed

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