REPORTS

Barchart - Sugar prices on Friday reverted to weakness, with NY sugar falling to a new 4.5-year low and London sugar falling to a new 4.25-year low. Sugar prices on Thursday earlier staged a temporary recovery when crude oil prices rallied on new US and EU oil sanctions on Russia. Higher crude oil prices benefit 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.