Falling oil price simply means that demand for alternative energy like sugar will be lowered. Rising US dollar is going to push down commodities prices including sugar.
According to CFTC data last week, hedge funds had decreased their long position in sugar futures. Net long positions fell by 5147 contracts, or 4% from a week earlier.
Shorted Sugar Oct 08 at 13.92
Stop level at 14.50
Target at 13.00
Value of 1 point is US$1,120
Parabolic had signal sell on the daily chart
30min chart shows that sugar price is trending lower
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