REPORTS

Barchart  - Sugar prices settled mixed on Wednesday, with London sugar falling to a 3-month low. Wednesday’s -8% plunge in WTI crude oil (CLZ26) to a 4-week low pressured sugar prices. Weakness in crude undercuts ethanol prices, potentially prompting the world’s sugar mills to divert cane crushing to sugar production rather than ethanol, thus boosting sugar supplies.

However, Wednesday’s decline in the dollar index ($DXY) to a 5-week low fueled short covering in sugar futures, with NY sugar pushing into positive territory.