May NY world sugar #11 (SBK26) closed down $0.21 (-1.44%) and May London ICE white sugar #5 (SWK26) closed down $2.10 (-0.50%). The moves were driven by a sharp -11% plunge in crude oil on Tuesday, which pressured ethanol pricing and transmitted weakness into sugar futures via the biofuel linkage. Expect continued sensitivity of sugar contracts to energy price swings as ethanol competitiveness shifts.
May NY world sugar #11 (SBK26) closed down $0.21 (-1.44%) and May London ICE white sugar #5 (SWK26) closed down $2.10 (-0.50%). The moves were driven by a sharp -11% plunge in crude oil on Tuesday, which pressured ethanol pricing and transmitted weakness into sugar futures via the biofuel linkage. Expect continued sensitivity of sugar contracts to energy price swings as ethanol competitiveness shifts.
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Request DemoOverall Sentiment
mildly negative
Sentiment Score
-0.20
Ticker Sentiment
