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Rich Asplund

Sugar Prices Post Modest Losses as Gasoline Prices Sink

India Thailand Brazil ISM USDA

October NY world sugar #11 (SBV24) Thursday closed down -0.02 (-0.10%), and Oct London ICE white sugar #5 (SWV24) closed down -2.30 (-0.43%).

Sugar prices on Thursday gave up an early advance and turned lower due to weakness in gasoline prices. Gasoline (RBV24) sank to a 2-3/4 year low Thursday, which undercuts ethanol prices and may prompt the world's sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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