October NY world sugar #11 (SBV24) Friday closed down -0.06 (-0.31%), and December London ICE white sugar #5 (SWZ24) closed up +0.80 (+0.15%).
Sugar prices Friday settled mixed, with London sugar posting a 1-week high. Sugar fell back from its best levels Friday, with NY sugar retreating from a 1-week high and turning lower after crude oil prices (CLV24) gave up an early advance and moved lower. On Tuesday, sugar prices fell to a 2-week low after crude oil plunged to a 16-month low. Weaker crude oil prices undercut ethanol prices and may prompt the world's sugar mills to divert more cane crushing to sugar production rather than ethanol, thus boosting sugar supplies.
