REPORTS

Barchart - May NY world sugar #11 (SBK26) on Thursday closed up +0.32 (+2.06%), and May London ICE white sugar #5 (SWK26) closed up +5.60 (+1.23%).

Sugar prices rallied sharply on Thursday, with NY sugar posting a 5.5-month high. Sugar prices rallied in sympathy with Thursday's +4% surge in crude oil prices (CLK26). The strength in crude prices boosts ethanol prices and may encourage the world's sugar mills to increase ethanol production and curb sugar output.