
March NY world sugar #11 (SBH25) Tuesday closed up +0.50 (+2.23%), and December London ICE white sugar #5 (SWZ24) closed up +5.30 (+0.92%).
Sugar prices Tuesday rose due to a surge in crude oil prices. WTI crude (CLX24) climbed more than +2% Tuesday, which was positive for ethanol prices and may prompt global sugar mills to divert more cane crushing to ethanol production at the expense of sugar production, thus curbing sugar supplies.