Price of Raw Sugar Falls

Raw sugar fell on bets that the longest rally since August was exaggerated, according to Bloomberg.

“Producers made some statements in the last couple of days that potentially prices are going to pull back a little bit,” said Richard Ilczyszyn, a senior market strategist at Lind- Waldock, a broker in Chicago. The market was “getting a little bit exhausted to the upside. Some of the technical indicators are indicating it’s a little bit overdone,” he said.

Prices climbed in the previous five sessions, jumping 12 percent. Sugar has slumped 41 percent this year, partly on speculation that global production will increase.

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