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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured by Weakness in Crude Oil

Oil India London USDA Ethanol ISO Brazil Deficit FAs ISMA

October NY world sugar #11 (SBV26) today is down -0.15 (-1.00%), and Aug London ICE white sugar #5 (SWQ26) is down -0.10 (-0.02%).

Sugar prices are moving lower today, with London sugar falling from a 9.75-month nearest-futures high. Sugar is under pressure today amid weakness in crude oil prices. WTI crude oil (CLQ26) tumbled to a 4.25-month low today, which undercuts ethanol prices and could potentially persuade global sugar millers to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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