Commodities: Sugar Hits 7-month Low

Sugar Futures Down

After a number of defaults, sugar futures in the U.S. dropped to 7-month lows, as sugar mills in India backed out of deals to import 100,000 tons of sugar from the U.S.

This is the eight loss for sugar in the last ten sessions, making one wonder how low it'll go before it rebounds.

Today the sugar futures sold for below 20 cents a pound, falling to 18.82 a pound at its worst; the lowest sugar futures price since the early part of August 2009.

Sugar Futures Down