Are The Lows In For Sugar?

Are the lows in for Sugar? That is the question traders are asking themselves, after Sugar futures finally saw a reprieve from the vicious 6-cent sell-off the past 2 months. Sharply lower prices have finally drawn some physical buyers back to the market, with recent tenders by Mexico and Iraq helping to keep prices from falling below key support at 11 cents. The 2006-07 world Sugar supply is expected to improve with current analyst estimates for a 2 to 4 million ton surplus next season. However, despite improved supply prospects, India still has an export ban in place to help control rising domestic prices. Read More....