
May NY world sugar #11 (SBK26) today is up +0.35 (+2.25%), and May London ICE white sugar #5 (SWK26) is up +7.60 (+1.67%).
Sugar prices are sharply higher today, with NY sugar posting a 5.5-month high. Sugar prices are tracking today's +4% surge in crude oil prices (CLK26). The strength in crude prices boosts ethanol prices and may encourage the world's sugar mills to increase ethanol production and curb sugar output.