How Low Are Sugar Prices Going?

02 May in Blog, coffee futures, commodity broker, commodity trading, cotton futures, futures broker, futures trading, lumber futures, Michael Seery, milk futures, option broker, orange juice futures, Seery Futures LLC, soft commodities, sugar futures

 Sugar Futures-- Sugar futures for the July contract this week have plummeted hitting a 1 year low today finishing down another 42 points to close at 20.53 a pound and had traded as high as 21.21 on Monday morning but prices continue to grind lower and it was one year ago today in early 2011 when sugar prices hit a low of 20.40 and if we break that level you are looking to go down into 18 – 19 range in sugar prices pretty quickly in my opinion. The softs commodities have been in bear markets with sugar, cotton, orange juice, coffee, all making contract lows basically on a daily basis. Sugar prices have a glut in supply in the last couple of months due to a better expected harvest also with a lack of demand causing prices to decline to yearly lows and in my opinion I believe sugar prices are headed lower at this point but long-term investors should keep an eye on this market because if prices do get into the 15 – 16 range that could be an outstanding buying opportunity just like it was in 2010. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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