
May NY world sugar #11 (SBK24) today is up +0.31 (+1.38%), and May London ICE white sugar #5 (SWK24) is not trading with markets in Europe closed for the Easter Monday holiday.
Sugar prices this morning are moderately higher, with NY sugar posting a 1-month high. Today's rally in crude prices (CLK24) to a 5-month high is bullish for sugar. Strength in crude prices benefits ethanol prices and may prompt global sugar mills to divert more cane crushing toward ethanol production than sugar, thus curbing sugar supplies.