Output Decrease to Buoy Sugar Futures

After two years of sugar prices slumping – the worst since 1999 – farmers throughout the world are preparing to cut back on plantings.  This is expected to making sugar output drop substantially for the first time since 2009.

In the 2013-14 marketing year that begins in October, global sugar output is expected to decline by just over 7M tons from this current marketing year’s glut of 172.3M tons.  The sugar futures lift in prices is not expected until this year’s fourth quarter.

The technical trend in sugar futures remains down and we are currently short this market.  Still no “bottom” in clear sight for sugar futures.

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