End of the Sugar Decline
The sugar market, currently trading around $.17 per pound has been drifting slowly lower since making its all time high of $.2957 per pound in August of 2011. Last week, the market fell through a key support level at $.1662 and traded down to $.1617 before reversing to close on its highs for the week. This could very well be the catalyst to rising sugar prices over the next few weeks.
The sugar market can be exceptionally volatile. Sugar’s average annual movement over the last five years is about 225% from high to low. …