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Home / Futures Blog / Sugar prices fall, but China could cause a rebound

Sugar prices fall, but China could cause a rebound

August 29, 2010 by Daniels Trading

The price of sugar fell on Monday, but rising demand and slumping domestic output in China could cause a turnaround in sugar futures later on in the year. A survey compiled by Bloomberg showed that China, the world’s third largest producer of the sweetener, could import as much as 1.5 million tons of sugar this year, up from 1.06 million tons last year.

However, said Piromsak Sasunee, the chief executive officer of Thai Sugar Trading Corp., “China is likely to step into the market when the sugar price declines, not at the current level. Purchases will help support the market.”

Raw No. 11 sugar futures fell 2.15 percent to 19.35 cents per pound on the IntercontinentalExchange.

China has been growing less sugar recently, and demand has been rising as Chinese consumers buy more cakes and soft drinks. Raw-sugar output fell 16 percent to 13.3 million tons in the 2008-2009 growing year, according to the U.S. Department of Agriculture, and slipped again to 11.6 million tons in the 2009-2010 season. Demand, on the other hand, is up to 14.9 million tons.

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Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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