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Barchart
Barchart
Rich Asplund

Sugar Prices Supported by Strength in Crude Oil

Oil India ISMA ISO Thailand Brazil FAs USDA

May NY world sugar #11 (SBK26) on Monday closed up +0.02 (+0.14%), and May London ICE white sugar #5 (SWK26) closed up +5.90 (+1.45%).

Sugar prices settled higher on Monday, supported by surging crude oil prices.  WTI crude (CLJ26) soared more than +6% to an 8.25-month high on Monday, which benefits ethanol prices and may prompt the world's sugar producers to divert more cane crushing toward ethanol production rather than sugar, thus reducing sugar supplies.

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