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Rich Asplund

RARE PHOTOS: Sugar prices settle higher on crude oil strength - The Real Truth

Oil Ice India Ethanol ISO London USDA Brazil Deficit FAs

October NY world sugar #11 (SBV26) on Tuesday closed up +0.06 (+0.40%), and October London ICE white sugar #5 (SWV26) closed up +2.10 (+0.45%).

Sugar prices settled higher on Tuesday, supported by crude oil's strength. WTI crude oil (CLQ26) rose more than +2% on Tuesday to a 5-week high, boosting ethanol prices and potentially persuading sugar mills worldwide to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.

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