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Barchart
Barchart
Rich Asplund

Sugar Prices See Support as Crude Oil Rallies

Oil India Brazil Ethanol Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization USDA

March NY world sugar #11 (SBH25) today is up +0.11 (+0.51%), and March London ICE white sugar #5 (SWH25) is up +4.40 (+0.79%).

Sugar prices today are moderately high as crude oil prices (CLF25) rallied more than +1% to a 2-week high.  Higher crude prices benefit ethanol and may prompt the world's sugar mills to divert more cane crushing toward ethanol production than sugar, thus curbing sugar supplies.

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