Thursday, January 17, 2008

Sugar Me Sweet

Sugar's up big this morning. I can't find any news justifying or even commenting on the reason for the move.

I know funds had been moving some money over to the sugar market, as it is being more heavily weighted on a few commodity indexes.

Regardless, sugar has some room to run. It neared the 20 cent mark a couple of years back, I believe its destined to but through that mark at some point. Even at 12 cents, sugar is quite cheap relative to a barrel of oil (thus the incentive to turn sugar into ethanol is quite high).

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