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Barchart
Barchart
Rich Asplund

Sugar Prices Weighed Down by Weakness in Crude Oil

Oil India ISMA Brazil ISO Thailand USDA FAs London NY

March NY world sugar #11 (SBH26) today is down -0.01 (-0.07%), and March London ICE white sugar #5 (SWH26) is down -0.80 (-0.19%).

Sugar prices gave up early gains today and turned lower after crude oil prices plunged.  WTI crude (CLF26) tumbled more than -2% today to a 7-week low, which undercuts ethanol prices 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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