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Rich Asplund

RARE PHOTOS: Soaring gasoline price boosts sugar - The Real Truth

India London NY ISMA ISO FAs USDA

May NY world sugar #11 (SBK26) today is up +0.34 (+2.35%), and May London ICE white sugar #5 (SWK26) is up +11.10 (+2.61%).

Sugar prices are moving sharply higher today, with NY sugar posting a 1.5-month high and London sugar posting a 4.75-month high. Soaring gasoline prices are boosting ethanol prices and are bullish for sugar. Gasoline (RBJ26) rallied to a 3.5-year high today, which may encourage the world's sugar mills to increase ethanol production at the expense of sugar.

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