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Barchart
Barchart
Rich Asplund

Sugar Prices Recover on Strength in Crude Oil

Oil India USDA Brazil ISMA NY Thailand

July NY world sugar #11 (SBN25) today is up +0.13 (+0.82%), and August London ICE white sugar #5 (SWQ25) is up +10.50 (+2.24%).

Sugar prices today recovered from early losses and turned higher after a +2% rally in WTI crude oil (CLQ25) sparked some short-covering in sugar futures.  Higher crude prices benefit ethanol prices and may prompt the world's sugar mills to divert cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.  

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