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Barchart
Barchart
Rich Asplund

Sugar Prices Trade on a Weak Note as Oil Prices Fall

Oil India USDA Ethanol Brazil Deficit FAs ISO

October NY world sugar #11 (SBV26) today is unchanged, and October London ICE white sugar #5 (SWV26) closed down -0.70 (-0.15%).

Sugar prices are trading on a weak note as WTI crude oil (CLQ26) fell -4%, giving back much of Thursday’s rally of +6.17%. Today’s fall in oil prices is bearish for ethanol prices, which may encourage sugar mills worldwide to divert less cane crushing toward ethanol production than sugar, thus boosting sugar supplies.

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