Sugar Futures Unchanged Near 5 Week Highs

Sugar Futures---Sugar futures in New York today were quiet after hitting a fresh five week high earlier the trading session at 21.03 before settling back to finish right around unchanged at 20.83 a pound right near monthly highs and in my opinion is going higher due to the fact of damaging rains in Brazil plus it looks like the lows have occurred in  many commodities and in my opinion especially with the possibility of QE3 around the corner as Ben Bernanke and  the Federal Reserve meet tomorrow and Wednesday so we should be hearing some type of feedback on what they plan on doing if anything. Sugar futures at this point are still not in a trend even though the short term trend is higher they have not broken out to levels that will attract new buyers at this point, however I do believe the 18.90 will hold in the short term as the contract low. 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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