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Barchart
Barchart
Rich Asplund

MYSTERIOUS: Sugar prices slip as the dollar rallies - You Need To See This

India ISMA Brazil FAs ISO London USDA

May NY world sugar #11 (SBK26) today is down -0.05 (-0.35%), and May London ICE white sugar #5 (SWK26) is down -0.30 (-0.07%).

Sugar prices gave up an early advance today and turned lower, pressured by a rally in the dollar index ($DXY) to a 3.5-month high.  Losses in sugar are limited on speculation that this week's rally in crude oil prices to a 3.75-year high will prompt Brazil to boost domestic gasoline prices, which could spur the country's sugar mills to divert more cane crushing toward ethanol production at the expense of sugar.  

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