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Barchart
Rich Asplund

Sugar Prices Rebound as Crude Oil Rallies

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

March NY world sugar #11 (SBH25) Friday closed up +0.12 (+0.63%), and March London ICE white sugar #5 (SWH25) closed up +1.90 (+0.38%).

Sugar prices Friday posted moderate gains.  Short covering emerged in sugar futures Friday 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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