
May NY world sugar #11 (SBK23) on Monday closed up +0.15 (+0.67%), and May London white sugar #5 (SWK23) closed up +3.10 (+0.49%).
Sugar prices Monday posted moderate gains, with NY sugar climbing to a 6-1/2 year nearest-futures high and London sugar climbing to a 10-1/2 year high A surge in crude prices (CLK23) Monday fueled gains in sugar. WTI crude oil Monday surged more than +6% to a 2-1/4 month high, which benefits ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward ethanol production than sugar, thus curbing sugar supplies.