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Barchart
Barchart
Rich Asplund

Sugar Prices Modestly Higher on Strength in Crude Oil

Oil India the Indian Sugar and Bioenergy Manufacturers Association Brazil Ethanol ISO London NY Thailand Unica

March NY world sugar #11 (SBH25) today is up +0.11 (+0.58%), and March London ICE white sugar #5 (SWH25) is up +0.70 (+0.14%).

Sugar prices today are mildly higher.  Short covering emerged in sugar futures today after WTI crude oil prices (CLG25) jumped more than +3% to a 3-month high.  Stronger crude prices benefit ethanol prices and could prompt global sugar mills to divert more cane crushing to ethanol production rather than sugar, thus curbing sugar supplies.  

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