March NY world sugar #11 (SBH25) today is up +0.25 (+1.19%), and March London ICE white sugar #5 (SWH25) is up +3.60 (+0.67%).
Sugar prices today are moderately higher, with London sugar recovering from a 1-month low. Short covering emerged in sugar futures after WTI crude oil (CLF25) rose more than +1% to a 1-week high. Strength in crude price supports ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.
