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ICE Sugar Futures Fall 1.87% on Wednesday as Crude Oil Plummets Over 5%

GateNews

2026-05-20 23:33:38

According to Jin10, ICE sugar futures (contract 11) fell 1.87% on Wednesday, driven by crude oil's sharp decline exceeding 5%. Lower ethanol prices may encourage global mills to divert more sugarcane to sugar production rather than ethanol, potentially increasing sugar supply and pressuring prices.

Czarnikow projects 2026/27 global sugar production surplus of 1.4 million metric tons, supported by increased Chinese output.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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