The Sugar Bull Market Turns Sour

The Sugar bull market turns sour: Sugar futures sank to 2006 lows this morning, as commodity fund liquidation continued. The most-active October contract broke though key support at 14.00, triggering sell-stops along the way. Sugar futures were the darling bull market in 2005, as tight world supplies and increased demand for cane-based ethanol had commodity bulls in a frenzy. This year gravity has taken its toll on Sugar prices, with increased production coming from India, supplies coming to market from the Brazilian harvest, and bearish chart patterns causing speculators to exit long positions. Read More....