
Oct NY world sugar #11 (SBV23) on Monday closed +0.19 (+0.79%), and Oct London white sugar #5 (SWV23) closed +4.80 (+0.71%).
Sugar prices Monday posted moderate gains. Strength in crude oil (CLU23) supported sugar prices after WTI crude on Monday rallied more than +1% to a 3-1/2 month high. Higher crude prices benefit ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.