I have quite a large position in Sugar and have been buying
the ETF at slightly higher levels and much more aggressively at
lower levels around 38 where it seems to have put in a rounded
bottom (SGG is the ticker)
There are some very high expectations built into the price with
respect to the crop in both India and Brazil materialising with
some record deliveries/output
If we are even slightly short on delivery of the crop, then the
price will rally
Given its fall from 84 only 3months ago, a current price of 43
seems worth going for. I see yes some "sweet" upside
Regards
Vimal
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Sugar
Posted by tshaker45 on 24th of May 2010 at 09:24 am
Anyone trading sugar looks like it may have put a small bottom in
I have quite a large position
Posted by vimal on 24th of May 2010 at 11:01 am
I have quite a large position in Sugar and have been buying the ETF at slightly higher levels and much more aggressively at lower levels around 38 where it seems to have put in a rounded bottom (SGG is the ticker)
There are some very high expectations built into the price with respect to the crop in both India and Brazil materialising with some record deliveries/output
If we are even slightly short on delivery of the crop, then the price will rally
Given its fall from 84 only 3months ago, a current price of 43 seems worth going for. I see yes some "sweet" upside
Regards
Vimal