Slump in Crude Oil Weighs on Sugar Prices

March NY world sugar #11 (SBH26) on Tuesday closed down -0.13 (-0.87%), and March London ICE white sugar #5 (SWH26) closed down -3.40 (-0.80%). Sugar prices retreated on Tuesday due to a slump in crude oil prices.  WTI crude (CLF26) sank to a 4.75-year low on Tuesday, 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 defens ...