REPORTS

Barchart - Sugar prices settled sharply lower on Wednesday, with London sugar falling to a 1-week low.  Wednesday's -4% plunge in gasoline prices (RBM26) undercut ethanol prices and weighed on sugar prices. According to Covrig Analytics, falling ethanol prices are already prompting Brazilian sugar mills to divert sugarcane away from ethanol production toward sugar, as sugar prices are currently 0.7 to 1 cent per pound more profitable to produce than ethanol.