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Rich Asplund

Sugar Prices Push Higher on Strength in Crude Oil and the Brazilian Real

Brazil crude oil Oil India London ISO USDA Ethanol Covrig Analytics FAs

May NY world sugar #11 (SBK26) today is up +0.04 (+0.29%), and Aug London ICE white sugar #5 (SWQ26) is up +3.80 (+0.90%).

Sugar prices are climbing today, with London sugar posting a 2-week high. Strength in crude oil prices (CLM26) is supportive of sugar today, with crude up more than +1%, which boosts ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

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