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Barchart
Barchart
Rich Asplund

Weakness in Crude Weighs on Sugar Prices

May NY world sugar #11 (SBK25) today is down -0.03 (-0.17%), and August London ICE white sugar #5 (SWQ25) is down -2.90 (-0.57%).

Sugar prices today gave up an early advance and turned lower after weakness in crude prices sparked long liquidation in sugar.  Today's -3% fall in WTI crude oil (CLM5) undercuts ethanol prices and may prompt the global sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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