
March NY world sugar #11 (SBH24) on Monday closed +0.44 (+1.65%), and Dec London white sugar #5 (SWZ23) closed +11.90 (+1.68%).
Sugar prices on Monday rallied to 2-week highs and closed moderately higher on a surge of more than +3% in crude oil prices. (CLX3) Strength in crude prices benefits ethanol prices and may prompt sugar mills worldwide to divert more sugar cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.