Michele Schneider | Jul 03, 2024 02:36AM ET
Mother Nature can be cruel.
On March 6, 2024, I wrote an article on sugar and inflation.
The biggest takeaway:
We will know about where inflation is headed by watching:
Recent weather conditions like the ones listed below are set to affect sugar prices.
Then add some concerning geopolitics:
The futures chart shows clear support at the 50-DMA after it consolidated and formed a base above 20.00.
The next hurdle is 22.00.
The CANE chart also shows a decent bounce once the 50-DMA cleared and the price of 12.00 (risk point).
CANE is outperforming the benchmark for the first time in a while.
Real Motion shows us momentum inclining with the clearance of the Bollinger Band.
Resistance is higher at 13.30 or the 200-DMA.
While we keep hearing about disinflation, I keep seeing signs of nuanced inflation.
Whether sugar is our ultimate X factor or not, it is super reliable to watch because it checks all the boxes
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