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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat as Crude Oil Plunges

Oct NY world sugar #11 (SBV23) on Wednesday closed -0.19 (-0.78%), and Oct London white sugar #5 (SWV23) closed -2.50 (-0.36%).

Sugar prices Wednesday gave up an early advance and turned lower after a -2% plunge in crude prices sparked long liquidation in sugar futures.  Weak crude prices undercut ethanol prices and may prompt global sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.  

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