Sugar futures in New York and London jumped on expectations that sugarcane mills in Brazil's center-south region will favor ethanol production over sugar production when the cane harvest begins in April, according to Deutsche Bank. "Based on current economics, producers should favour ethanol production through June 1," said Christina McGlone-Hahn, an analyst at Deutsche Bank. A plan to trim or eliminate the nation's tax on ethanol may lead mills to ramp up production of hydrous ethanol in July and August instead of shifting to sugar production, McGlone-Hahn said.

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