Sugar prices are going down this trading session. Yesterday’s trading session in New York (NYMEX) closed for the sugar futures (October delivery) with a 7-point decline down to $20,32 per pound or $477 per ton.
The sugar futures contract for October delivery costs $572.30 per ton in London after a $1.7 decline from yesterday’s prices.
The chart below, courtesy of , reflects the current state of affairs in the market of sugar. The price behavior resembles a flight of steps. Probably, today’s trading session will bring no surprises. After a short period of consolidation we will probably see another bearish move down below the 20.2 low.
