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Surging Crude Oil Prices Support Sugar

Commodities & Raw MaterialsCommodity FuturesEnergy Markets & PricesMarket Technicals & Flows

May NY world sugar #11 rose 0.03 cents, or 0.22%, while Aug London ICE white sugar #5 gained 3.80 dollars, or 0.90%, with London prices reaching a 2-week high. The move was supported by strength in crude oil prices, which can improve sugar's appeal for ethanol production.

Analysis

May NY world sugar #11 rose 0.03 cents, or 0.22%, while Aug London ICE white sugar #5 gained 3.80 dollars, or 0.90%, with London prices reaching a 2-week high. The move was supported by strength in crude oil prices, which can improve sugar's appeal for ethanol production.

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