REPORTS

Barchart - Sugar prices settled lower on Thursday, with NY sugar falling to a 2-week low. The outlook for the global sugar surplus to persist is weighing on prices and limiting rallies.

Sugar losses were limited on Thursday amid soaring crude oil prices. WTI crude oil (CLJ26) surged more than +8% to a 19.5-month high on Thursday, which benefits 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.