The El Nino-driven bull market in sugar began last spring. Prices have soared more than 30% because of a combination of drought in India and Thailand, and higher crude oil prices. This price surge is more than any other agricultural commodity.
Currently, as my weather maps show, heavy rains hitting Brazil and Thailand will delay their harvest. This may add to the “squeeze situation” occurring in this market.
My Best Weather spider is in the “cautiously” bullish camp in sugar. We look at all fundamentals, technicals as well as trader psychology from natural gas to grains and all soft commodities. Feel free to receive a 2-week TRIAL period to WeatherWealth.