REPORTS

Barchart - Sugar prices rallied on Thursday, with NY sugar posting a 1-week high and London sugar posting a 2.5-week high. Soaring crude oil prices are supporting sugar, as WTI crude (CLV26) rose more than +6% on Thursday to a 3.5-month high. Higher crude prices support ethanol prices and could prompt the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, reducing sugar supplies.