May NY world sugar #11 is down 3.00% and Aug London ICE white sugar #5 is down 1.70%, with NY sugar hitting a 5.5-year nearest-futures low. The move is being driven by a 12% plunge in crude oil prices, which is pressuring sugar markets. This is a bearish commodity-price update that may weigh on sugar-linked futures and related producers.
May NY world sugar #11 is down 3.00% and Aug London ICE white sugar #5 is down 1.70%, with NY sugar hitting a 5.5-year nearest-futures low. The move is being driven by a 12% plunge in crude oil prices, which is pressuring sugar markets. This is a bearish commodity-price update that may weigh on sugar-linked futures and related producers.
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strongly negative
Sentiment Score
-0.55
