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Rich Asplund

Sugar Prices Slip as Crude Oil Plunges

Oil India ISMA ISO FAs London USDA

May NY world sugar #11 (SBK26) today is down -0.15 (-0.96%), and May London ICE white sugar #5 (SWK26) is down -1.80 (-0.40%).

Today's plunge in crude oil prices (CLK26) by more than -7% has sparked long liquidation in sugar futures. The weakness in crude prices undercuts ethanol prices and may encourage the world's sugar mills to decrease ethanol production and boost sugar output.

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