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Barchart
Barchart
Rich Asplund

Sugar Prices Follow Crude Prices Lower

March NY world sugar #11 (SBH24) closed down -0.29 (-1.34%) on Wednesday, and March London ICE white sugar #5 (SWH24) closed down -9.50 (-1.53%).

Sugar prices on Wednesday posted moderate losses.  Weakness in crude prices weighs on sugar as WTI crude oil (CLG24) fell more than -1% on Wednesday.  Lower crude prices undercut ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production than ethanol, thus boosting sugar supplies.  

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