Futures Commentary and Analysis


Sugar Prices Look Strong
Michael Seery - IF - Mon Sep 11, 12:05PM CDT

Sugar Futures---Sugar futures in the October contract is trading higher by 20 points in New York currently trading at 14.29 as I'm looking at a possible bullish position if prices break the 14.44 level which was hit on August 31st & if that does occur place the stop loss under the 10 day low of 13.63 risking around $900 per contract plus slippage and commission.

The chart structure in sugar is outstanding at the present time as prices have gone nowhere over the last 2 weeks coupled with the fact that the volatility is relatively low as I still think sugar looks interesting to the upside.

Prices are trading above their 20 day moving average but still below their 100 day which stands at 14.74 & if that is broken I think there will be buy stops that could propel prices above the August 1st high of 15.16 as a weak U.S dollar could push prices higher in the weeks ahead.

The U.S dollar is up over 40 points in today's trade ,but is having very little impact on sugar prices as unleaded gas is helping support prices as sugar is used as a biodiesel while historically speaking still looks very cheap in my opinion so play this to the upside while maintaining a risk management strategy of 2% of your account balance on any given trade.TREND: HIGHER---MIXED–CHART STRUCTURE: --EXCELLENT

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