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Barchart
Barchart
Rich Asplund

BIZARRE: Surging crude oil prices support sugar - What They Never Told You

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.  

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