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Sugar Prices Remain In Tight Consolidation

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Sugar Futures--- Sugar futures in the March contract settled last Friday in New York at 14.00 a pound while currently trading at 14.11 basically unchanged for the trading week still stuck in a 5 week consolidation with very little volatility at the present time.

Currently I'm not involved in sugar as I'm waiting for the breakout to occur which would be at the 14.57 level as there is absolutely no fresh news to push prices in any direction as prices are trading right at their 20 day & slightly below their 100 day moving average which now stands at 14.48 as the volatility has come to an absolute crawl.

Sugar prices are holding major support around 13.50/13.70 as large worldwide production continues to keep a lid on prices coupled with the fact that the U.S dollar is up sharply again in today's trade as it hit a 3 month high and that is definitely putting pressure on the agricultural markets at the current time.

My only recommendation in the soft commodities is cocoa which is slightly lower in today's trade as the rest of the sector remains in a mixed trend as the volatility in sugar will increase as I still think historically speaking prices look cheap. TREND: MIXED---SIDEWAYSCHART STRUCTURE: SOLID

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit

Skype Address: mseery TWITTER---@seeryfutures



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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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