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Barchart
Barchart
Rich Asplund

Sugar Prices Undercut by Dollar Strength and Weakness in Crude

India ISMA NY London Brazil ISO Thailand

May NY world sugar #11 (SBK23) on Wednesday closed down -0.06 (-0.28%), and May London white sugar #5 (SWK23) closed up +2.20 (+0.36%).

Sugar prices Wednesday settled mixed.  A stronger dollar Wednesday weighed on sugar prices, along with weakness in crude prices, which fell from a 2-week high and turned lower.  Lower crude prices undercut ethanol and may prompt the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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