REPORTS

Barchart - May NY world sugar #11 (SBK26) on Tuesday closed up +0.36 (+2.32%), and May London ICE white sugar #5 (SWK26) closed up +13.90 (+3.10%).

Sugar prices settled sharply higher on Tuesday, with NY sugar posting a 5-month high and London sugar posting a 5.5-month high. Tuesday's +4% rally in crude oil prices (CLK26) is bullish for sugar. The strength in crude prices boosts ethanol prices and may encourage the world's sugar mills to increase ethanol production and curb sugar output.