
May NY world sugar #11 (SBK26) on Thursday closed up +0.03 (+0.22%), and Aug London ICE white sugar #5 (SWQ26) closed up +3.80 (+0.90%).
Sugar prices moved higher on Thursday, with London sugar posting a 2-week high. Strength in crude oil prices (CLM26) is supportive of sugar, as crude rose more than +3% on Thursday, which boosts ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.