SUGARUSD Confirmed the Bullish BAMM Trigger Line as Support

RizeSenpai Updated   
This has been a Years Long trade and Sugar is nearly there at the 88.6% target, but I do think since we spent some time testing the B point as support that it has potential for pushing all the way to the 1.13 Extension to complete a Full ABCD, so I will be opening up another bullish position on the CANE ETF from here and targeting higher levels.
The hurricane seasons have been getting stronger and stronger over the last few years and this is a trend that is expected to continue into the future. Upon seeing the GFS models for Hurricane Idalia and the strength of Idle Hurricane Franklin, I am now decently convinced that this heightened activity will negatively affect the production of US Sugar and Oranges, as Florida produces about 50% of US Sugar and 70% of US Citrus. Given these facts, we may actually see further increases in the pricing for these items, and since Sugar is a highly used preservative, we may also see a general increase in Food Prices once again, not exactly due to dollar weakness but rather due to a shortage of supply and increased difficulty in transporting the products due to any unforeseen storm-related damages that may occur.


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