Southern Crop

Southern Crop

Speculators Sit on Sugar Pile, Raising Fears of Selloff

Speculative investors have built a record position in sugar this year, sparking fears of a swift pullback in its price.

Investors such as hedge funds own around 26% of the New York sugar-futures market, according to data from the Commodity Futures Trading Commission. That is down from a third in October, but speculators still own a huge pile of sugar by historical standards—around $5.35 billion worth, at current prices.

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A state bill introduced in Sacramento will require all eggs produced and sold in California to be cage-free by Jan. 1, 2024. The bill, AB 3021, is authored by Assembly members Marc Levine, D-San Franciso; Rudy Salas, D-Bakersfield; and, Jose Medina, D-Riverside. Read more

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