How Low Are Sugar Prices Headed?

19 Apr in Blog, coffee futures, commodity broker, commodity trading, cotton futures, futures broker, futures trading, lumber futures, Michael Seery, milk futures, option broker, orange juice futures, Seery Futures LLC, soft commodities, sugar futures

Sugar Futures--- Sugar Futures extended this week's losses today by adding another 16 points to the downside hitting a fresh seven-month low settling around 21.85 a pound. Sugar is following crude oil and corn prices to the downside since they're all used as a bio diesel due to lack of demand and downward pressure generally in many of the commodity sectors. Sugar prices in 2010 reached around 15.50 a pound and I think you have a chance to go as low as that level over the next couple of months due to a tremendous supply and surplus coming into the market. I always trade with the trend and if you're looking to get into sugar you might want to play to the downside and maybe wait for some type of kickback to the upside to enter a short position. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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