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Rich Asplund

Sugar Prices Weighed Down by a Slump in Crude Oil

Oil India Thailand Brazil ISM USDA

October NY world sugar #11 (SBV24) Wednesday closed down -0.25 (-1.28%), and Oct London ICE white sugar #5 (SWV24) closed down -2.70 (-0.50%).

Sugar prices posted moderate losses on Wednesday due to weakness in crude prices. Crude oil (CLV24) fell to an 8-3/4 month low Wednesday, which undercut ethanol prices and may prompt the world's sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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