Sugar prices are in a free fall now at prices we have not seen since July 2010. A major reason for last week’s drop was that it was reported the output nearly tripled in April at the main growing area of Brazil.
The short-term trend for major stock indexes is still positive, but it looks increasingly tired.
In the Dow-to-gold ratio chart, we see an important breakout above the declining long-term resistance line. This has bearish implications for gold.
Chairman Gary Gensler’s recusal from the investigation into MF Global was unnecessary, according to the agency’s internal watchdog.