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World sugar futures can be highly volatile. Since the early 1970s, the sweet commodity has traded from a low at 2.29 to 66.0 cents per pound. Since 2011, the range has been from 9.83 to 36.08 cents. On Friday, October 25, the price of nearby March sugar futures on the Intercontinental Exchange settled at 12.35 cents per pound.
Sugar had not traded below 10 cents per pound since 2008 before 2018 when the price of the soft commodity briefly probed below the level. Many countries around the world produce sugar. In tropical climates, sugarcane is