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From the desk of Evdokia Pitsillidou, Risk Management Associate at easyMarkets.
Sugar prices edged slightly lower at the start of June, but have maintained a solid upward trajectory since the middle of April, as large production shortfalls and collapsing Latin American economies have created firm expectations for a continued supply deficit.
Raw sugar futures were last seen trading at $17.42 a pound, a nearly two-year high, as investors continue to expect tighter global supplies. Prices traded as high as $17.63 a pound in the New York session on Tuesday.
Technical indicators suggest further upside is in store for the sweet ... (read more)