
March NY world sugar #11 (SBH25) today is up +0.42 (+1.85%), and December London ICE white sugar #5 (SWZ24) is up +8.20 (+1.43%).
Today's +4% jump in crude prices (CLX24) to a 1-month high supports moderate gains in sugar. Strength in crude oil benefits ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus reducing sugar supplies.