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Barchart

Rich Asplund

EXPLAINED: Sugar prices undercut by weak gasoline prices | Rare Historical Photos

India Thailand Brazil ISM London USDA

October NY world sugar #11 (SBV24) today is down -0.02 (-0.10%), and Oct London ICE white sugar #5 (SWV24) is down -1.70 (-0.32%).

Sugar prices today gave up an early advance and turned slightly lower on weakness in gasoline prices. Gasoline (RBV24) dropped to a 2-3/4 year low today, which undercuts ethanol prices and may prompt the world's sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.

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