Ok, so I missed when calling the top last time (that first $23 candle there) and it moved on up to nearly $25, but the last few days have seen the snap. There's a moment speculation gives way to reality, even in the commods pits. Sugar supply may be tight but it can't command $20+ prices for very long. The world isn't made that way and sugarcane grows too quickly.Monday, September 14, 2009
Chart of the day is.......
...sugar, daily candle.
Ok, so I missed when calling the top last time (that first $23 candle there) and it moved on up to nearly $25, but the last few days have seen the snap. There's a moment speculation gives way to reality, even in the commods pits. Sugar supply may be tight but it can't command $20+ prices for very long. The world isn't made that way and sugarcane grows too quickly.
Ok, so I missed when calling the top last time (that first $23 candle there) and it moved on up to nearly $25, but the last few days have seen the snap. There's a moment speculation gives way to reality, even in the commods pits. Sugar supply may be tight but it can't command $20+ prices for very long. The world isn't made that way and sugarcane grows too quickly.