Two short months ago, the sugar market was taking the commodity world by storm with prices soaring to their highest level in three decades. And, according to the captains of the mainstream ship, the bullish waters were smooth sailing as far as the eye could see. Yet, from their late January peak, sugar prices have soured to a three-month low.
One short month ago, the sugar market was taking the commodity world by storm with prices soaring to their highest level in three decades. And, according to the captains of the mainstream analysis ship, the bullish waters were smooth sailing as far as the eye could see.
Feb. 9 (Bloomberg) — Copper, crude oil and sugar are the top picks among commodities, with the three set to gain on increasing emerging-market demand and supply constraints as the global economy recovers, according to Morgan Stanley.
Copper, crude oil and sugar are the top picks among commodities, with the three set to gain on increasing emerging-market demand and supply constraints as the global economy recovers, according to Morgan Stanley.
Billionaire George Soros’s Adecoagro venture, which invests in agriculture and renewable energy in Latin America, is considering an initial public offering to help fund projects in Brazil that include a $700 million sugar mill.
The agribusiness company said that selling its phosphate business would allow it to expand its sugar operations.
The Australian conglomerate CSR turned away a $1.4 billion offer from Bright Food Group of China for CSR’s sugar business, and said it would spin off the division.
And the award for best performing commodity of 2009 goes to… sugar
Copper dipped on Tuesday after hitting a 16-month high in the previous session, but crude oil maintained its upward mometum and sugar prices extended their record-breaking run as commodity markets continued with their strong start to trading in 2010.
And the award for best performing commodity of 2009 goes to… sugar ! Last year, sugar prices skyrocketed 128% to land at their highest level in nearly three decades. No sooner had the market accepted this honor than the financial blogosphere became log jammed with posts debating whether the great “Sugar Rush” was here to stay
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