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Barchart
Barchart
Rich Asplund

DARK SECRETS: Soaring crude oil prices push sugar higher - The Real Truth

Oil India ISMA ISO Brazil Thailand FAs USDA

May NY world sugar #11 (SBK26) today is up +0.08 (+0.58%), and May London ICE white sugar #5 (SWK26) is up +0.60 (+0.15%).

Sugar prices recovered from early losses today and pushed higher, supported by soaring crude oil prices.  WTI crude oil (CLJ26) surged to a 13.5-month high today, which benefits 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.

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