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Stock impact report

Sugar Prices Sink as Crude Oil Plunges [Yahoo! Finance]

StoneX Group Inc. (SNEX) 
Company Research Source: Yahoo! Finance
Sugar prices are sinking today, with NY sugar falling to a 5.5-year nearest-futures low. Today's -12% plunge in crude oil prices (CLK26) is hammering sugar prices. Lower crude prices undercut ethanol prices and could prompt global sugar millers to divert more cane crushing toward sugar production, thereby boosting sugar supplies. More News from Barchart Coffee Prices Retreat as the Dollar Strengthens Dollar Strength Weighs on Coffee Prices Cocoa Prices Decline as Q1 European Cocoa Grindings Falter Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Sugar prices also fell today after Iran said the Strait of Hormuz is now reopened, which should restore normal shipping flows and ease global sugar supply concerns. Sugar prices have been under pressure for the past two weeks amid expectations of abundant global supplies and tepid demand. Wednesday' Show less Read more
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