Trader’s Timeout: Sugar Prices Leave Bitter Taste

[kreslik.news]

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)