Sep 20, 2014
Home| Tools| Events| Blogs| Discussions| Sign UpLogin

The Farm CPA

RSS By: Paul Neiffer, Top Producer

Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.

Sugar Drops 20% in Two Days

Nov 14, 2010

Prices for sugar hit a 30-year high on Thursday at 33.39 cents per pound, however, by the end of the day, prices had dropped about 9.6% closing at 29.66 cents a pound and dropped another 11.6% on Friday to close the week at 26.21 cents per pound.

The drop in prices was sparked by the announcement that India appears to have a sugar surplus of about 3.5 million metric tons which should offset the impact of the drought-stricken harvest in Brazil, the world's largest producer.

India's announcement was about 3 times higher than what the market expected.  The final total, which determines how much sugar can be exported can be higher.  This decision will most likely be made sometime later this month.

China's expected raise in interest rates also appears to be spooking the market for soft agricultural goods such as sugar, cocoa, coffee and cotton which all fell by at least 3 percent on Friday.

Log In or Sign Up to comment


No comments have been posted, be the first one to comment.

Receive the latest news, information and commentary customized for you. Sign up to receive Beef Today's Cattle Drive today!. Interested in the latest prices for cattle in your area? See highlights of the latest for-sale cattle in the Cattle-Exchange eNewsletter.

Hot Links & Cool Tools


facebook twitter youtube View More>>
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by|Site Map|Privacy Policy|Terms & Conditions