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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat as Crude Oil Plunges

Oil India Ethanol ISO USDA Brazil Deficit FAs

October NY world sugar #11 (SBV26) today is down -0.18 (-1.22%), and October London ICE white sugar #5 (SWV26) is down -1.50 (-0.33%).

Sugar prices are under pressure today, sliding to 1-week lows amid the plunge in crude oil prices. WTI crude oil (CLU26) is down more than -6% today, which undercuts ethanol prices and may encourage sugar mills worldwide to divert less cane crushing toward ethanol production than sugar, thus boosting sugar supplies.

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