Salient to Investors:
International Sugar Organization estimates sugar production will exceed demand by 5.9 million metric tons in year that began Oct. 1, more than the U.S. consumes in six months – supply including inventories will be the highest ever.
Jonathan Kingsman at Kingsman SA said the surplus is probably getting worse and expects prices to stay under pressure.
Hedge funds pared bullish bets on sugar by 48 percent since the start of March.
Read the full article at http://www.bloomberg.com/news/2012-10-15/sugar-glut-extending-to-longest-in-more-than-decade-commodities.html