October NY world sugar #11 (SBV26) is up +0.19 (+1.05%) today, and October London ICE white sugar #5 (SWV26) is up +8.00 (+1.54%).
Sugar prices are moving higher today on the +3% surge in crude price (CLV26) to a 3.25-month high. Higher crude prices support ethanol prices and could prompt the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, reducing sugar supplies.