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Barchart
Barchart
Rich Asplund

Sugar Prices Slide on Demand Concerns and Weak Crude Prices

Brazil Green Pool Commodity Specialists India Thailand USDA

May NY world sugar #11 (SBK25) today is down -0.14 (-0.77%), and May London ICE white sugar #5 (SWK25) is down -6.40 (-1.22%).

Sugar prices today extended their week-long slide to 3-week lows.  Weakness in crude prices is weighing on sugar after WTI crude (CLJ25) fell to a 2-3/4 month low today.  Weaker crude prices undercut ethanol prices and may prompt global sugar mills to divert cane crushing toward sugar production rather than ethanol, boosting sugar supplies.

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