Sugar Slides Further

Sugar slides further: It was another rough day for Sugar bulls, with October Sugar falling 6.5%, as funds continue to liquidate their losing long positions. The fundamentals in Sugar have turned bearish, as world Sugar supplies are expected to return to a surplus of over 3 million tons in the 2006-07 marketing year. Cash market traders report that little physical activity has taken place recently, which removed trade buyers from the market. The recent sell-off in energy futures has spilled over to the Sugar ring, with Ethanol prices starting to fall from all-time highs. Commodity funds have cut their net long positions from earlier this year nearly in half . Read More....