Sugar Prices Settle Higher as Crude Oil Surges

March NY world sugar #11 (SBH26) on Thursday closed up +0.19 (+1.26%), and December London ICE white sugar #5 (SWZ25) closed up +3.30 (+0.76%). Sugar prices settled higher on Thursday after a sharp rally in crude oil prices sparked short-covering in sugar futures.  Crude oil (CLZ25) surged more than +5% on Thursday to a 2-week high, which benefits ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies. ...