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Market Impact: 0.24
Soaring Crude Oil Prices Lift Sugar
Source: Nasdaq
Commodities & Raw MaterialsCommodity FuturesEnergy Markets & Prices
October NY world sugar #11 futures rose 1.90% to a one-week high, while October London white sugar futures gained 0.80% to a 2.5-week high. The advance was supported by surging crude oil prices, which can improve the relative economics of diverting sugarcane toward ethanol production and tighten sugar supply.
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