• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Time for Sweet Talk: Sugar Futures
Stock

Time for Sweet Talk: Sugar Futures

by January 23, 2024
by January 23, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The biggest mover so far in one month’s time is sugar futures, up over 16%.

As I am a big follower of weather patterns and have predicted weather could be a huge factor on several crops this year, one major concern for sugar is that the current El Niño weather pattern will curtail global sugar output.

In addition, India’s ban on sugar exports will continue to keep global supplies tight. This comes after India announced a 50% export tax on molasses from sugar refining. Monsoons in India (Jun-Sep) fell 6% below average, the poorest monsoon rainfall in 5 years.

Furthermore, the Thai Sugar Millers Corp, on November 1, projected that Thailand’s 2023/24 sugar production would fall by -36% y/y to a 17-year low due to a severe drought.

I love to watch sugar as a barometer for food prices (it’s in practically every processed food product) and as a bellwether for social unrest and inflation. Folks will fight over sugar when there are shortages, and it is not even Valentine’s Day yet. As more and more reports claim inflation is over, the sweet white stuff is worth watching.

CANE, the ETF for sugar, has rallied into some resistance at the 200-day moving average. However, it has handily cleared the January 6-month calendar range high, making the trend higher for longer seem obvious. CANE outperforms SPY and, while momentum has been just okay, with further price rises, we could see momentum kick in.

On the March 2024 futures chart, 23.00 is support while 24.00 is resistance. Most noteworthy is the notion of super cycles. Sugar is a great example of a 400% move higher since 2020, followed by a near 40% move lower. And currently, a 20% move up since it reached the nadir of 20.00.

Volatility — yes — is the inherent nature of a super cycle. Has the next wave begun?

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

Come to the Money Show to hear me and many other great folks speak!

Traders World Fintech Awards

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth.

Grow your wealth today and plant your money tree!

“I grew my money tree and so can you!” – Mish Schneider

Follow Mish on X @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish talks all about retail and stock pick Abbvie (ABBV) on Business First AM.

Nicole Petallides and Mish dig deep into trends and stocks to watch for next big moves, as we are in full January trend mode on this video from Schwab Network.

On the Monday, January 22 episode of Your Daily Fivefrom StockCharts TV, Mish sees the potential for consumers to spend more money, from self-help to dieting, to makeup to skincare to fashion — pointing out several relevant stocks and how to trade them.

Mish looks at a selection of popular instruments in this video from CMC Markets, outlining their possible directions of travel.

Mish joins Jason Perz on the Against All Odds playlist, where she covers it all talking the mental game of trading, commodities, futures, equities, technical analysis, and macro.

Mish’s Market Minute on StockCharts TV returns, all new! Mish and Geoff Bysshe share how the powerful “Calendar Range” StockChartsACP plugin tells you who and what to believe, when to act, and what to trade. The new year is a big “reset” emotionally, and January sets the tone for the next six months AND the year. Every month is “like an inning in baseball,” financial reports focus on quarters, but analysts think in terms of the first half and second half of the year. How can you harness this knowledge to your benefit? Watch to find out!

Mish presents a three part market outlook in these videos from CMC Markets. In the first, Mish gives you a thorough outlook on which areas to invest in for 2024 in just four and half minutes. Then, she examines whether the S&P 500 can keep rallying, and finally, she investigates where 2024 could be the year of the heavy metals.

Mish offers her thoughts on a number of commodities ahead of the US CPI data announcement in this appearance on CMC Markets.

In this video from CMC Markets, Mish continues with her analysis on gold, oil and gas, this time adding the dollar/yen currency pair and her outlook on the dollar longer term.

Coming Up:

January 22: Your Daily Five, StockCharts TV & Schwab Network

January 24: Yahoo! Finance

January 25: Live Coaching

February 2: Money Show Life with Chuck Jaffe

Weekly: Business First AM, CMC Markets

ETF Summary

S&P 500 (SPY): 480 now the pivotal zone.Russell 2000 (IWM): 195 pivotal, 190 support to hold.Dow (DIA): 375 support.Nasdaq (QQQ): 408-409 support.Regional banks (KRE): Back over 50 which needs to hold.Semiconductors (SMH): 184 support.Transportation (IYT): 262 now pivotal.Biotechnology (IBB): 135 pivotal.Retail (XRT): Held support at 65, but still needs to get back over 70.00.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • Farewell to the Eurodollar
  • Odd or Resilient? European Banks
  • Master the 18/40 MA Strategy: Spot Trend, Momentum & Entry
  • Three Sectors Stand Out and One Sports a Bullish Breakout
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Sector Spotlight: US Stocks Once Again Lead the World
next post
Ernst demands OMB audit every Biden admin head’s schedule after Secretary Austin’s hospitalization

You may also like

Tech ETFs are Leading Since April, but Another Group is...

June 7, 2025

This S&P 500 Rally is Defying the Experts – Here’s...

September 19, 2024

Market Research and Analysis – Part 3: Market Trend Analysis

March 28, 2024

Nvidia Stock: Why It’s Screaming a Spectacular Buy Signal

September 27, 2023

Capturing the Momentum Phenomenon – Nvida vs Tesla

February 19, 2024

Week Ahead: NIFTY Likely To Continue To Consolidate; Relative Outperformance...

February 24, 2024

Investors are Pouring Into Gold Miners—Here’s What You Need to...

January 24, 2025

The Most Important Chart to Watch Into Year-End 2024

December 6, 2024

Striking While The Iron Is HOT!

October 15, 2023

DP Trading Room: Finally! Signs of Life in the Energy...

December 19, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025
    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,630 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,576 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Week Ahead: NIFTY May Continue Finding...

    April 6, 2024

    Is a Bold Rotation Brewing in...

    June 13, 2025

    A Practical Options Strategy to Trade...

    June 4, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here