May NY world sugar #11 (SBK26) fell 0.27 (-1.74%) and May London ICE white sugar #5 (SWK26) dropped 7.10 (-1.58%), dragging sugar to two-week lows. Weakness in crude oil (CLK26) is undercutting ethanol prices, which may reduce ethanol demand for sugar feedstock and exert further downward pressure on sugar futures.
May NY world sugar #11 (SBK26) fell 0.27 (-1.74%) and May London ICE white sugar #5 (SWK26) dropped 7.10 (-1.58%), dragging sugar to two-week lows. Weakness in crude oil (CLK26) is undercutting ethanol prices, which may reduce ethanol demand for sugar feedstock and exert further downward pressure on sugar futures.
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mildly negative
Sentiment Score
-0.18
