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Barchart

Rich Asplund

Sugar Settles Higher on Strength in Gasoline Prices

India Thailand Brazil El Nino London Unica USDA

May NY world sugar #11 (SBK24) on Monday closed up +0.04 (+0.18%), and May London ICE white sugar #5 (SWK24) closed up +4.60 (+0.74%).

Sugar prices on Monday rallied to 2-week highs due to the strength of gasoline prices. April gasoline (RBJ24) on Monday jumped to a 6-month high, which boosted ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward ethanol production instead of sugar, thus reducing sugar supplies.

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