CANE - Sugar: Technical Resistance Broken As Stimulus A Weaker USD And Production Concerns Support Higher Prices
World sugar futures are a member of the soft commodities sector. Sugar is an essential food that many governments around the globe subsidize. The world sugar futures contracts that trade on the Intercontinental Exchange reflect the free market price and the supply and demand fundamentals.
The world’s leading producer of world sugar is Brazil. Since sugar futures use the US dollar as the pricing mechanism for the sweet commodity and local production costs in Brazil are in Brazilian real, the currency market can impact prices. However, the weather in Brazil and the actions of growers