Sugar Prices Erase Early Gains as Crude Oil Tumbles

March NY world sugar #11 (SBH26) on Wednesday closed down -0.04 (-0.27%), and March London ICE white sugar #5 (SWH26) closed down -0.30 (-0.07%). Sugar prices fell back from 3.5-week highs on Wednesday and closed lower after a plunge in crude oil prices sparked long liquidation in sugar futures.  WTI crude oil prices (CLZ25) tumbled more than -2% on Wednesday, which undercut ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production than ethanol, boosting su ...