REPORTS

Sugar prices on Wednesday closed steady to lower, with London sugar falling to a 2-1/2 month low. Sugar prices on Wednesday garnered support from strength in crude oil, which rebounded slightly after falling to a 3-1/4 month low on Tuesday. Weaker crude oil prices undercut ethanol prices and may prompt Brazil's sugar mills to divert more cane crushing toward sugar production rather than ethanol production, thus boosting sugar supplies.