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Barchart

Rich Asplund

Sugar Supported by a Surge in Crude Prices

India Oil Brazil Thailand Ethanol ISO NY USDA

March NY world sugar #11 (SBH25) today is up +0.36 (+1.60%), and December London ICE white sugar #5 (SWZ24) is up +2.30 (+0.40%).

Sugar prices today are moderately higher due to a surge in crude oil prices. WTI crude (CLX24) is up more than +4% today, which is positive for ethanol prices and may prompt global sugar mills to divert more cane crushing to ethanol production at the expense of sugar production, thus curbing sugar supplies.

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