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Sugar Prices Remain Bearish

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Sugar Futures---Sugar futures in the July contract are currently trading lower by 19 points at 11.62 a pound reversing the rally that we witnessed in yesterday's trade as I still remain bearish as I believe yesterday was caused by speculation of heavy rain entering certain parts are Brazil therefor hampering harvest.

At the present time I've been recommending 2 short positions with an average price of 12.06 and if you took those trades continue to place the stop loss above the May 15th high of 12.06 as the chart structure is outstanding.

For the bearish momentum to continue we have to break yesterday's low of 11.36 and then I think 11.10 is in the cards as crude oil prices are down over $2 today as that is also putting some pressure on sugar in today's action.

Sugar prices are still trading under their 20 and 100 moving average as the trend still remains negative and fundamentally speaking the India Sugar Mills Association forecast India's sugar stockpiles may reach a record high of 14.7 MMT by Sep 30th as the world is awash in supply.

The chart structure will not improve for another 5 trading sessions so you will have to accept the monetary risk, but continue to play this to the downside as the soft commodities remain bearish




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit

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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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