Sugar Prices Undercut by Weakness in Crude Oil

March NY world sugar #11 (SBH26) today is down -0.03 (-0.20%), and March London ICE white sugar #5 (SWH26) is down -1.40 (-0.33%). Sugar prices are under pressure today from a slump in crude oil prices.  WTI crude (CLF26) sank to a 4.75-year low today, which undercuts ethanol prices and may prompt the world's sugar mills to divert more cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies. More News from Barchart Sugar prices were already on the defensive from Monday ...