Watch for increased plantings in India
The short crop in India coupled with the higher prices that world sugar futures are seeing may spur growers to increase plantings of sugarcane, as noted in a Bloomberg story this morning. The planting window still has another few weeks, so if May09 sugar remains strong (above 50 d moving age) the financial incentive exists to get as much in the ground as possible, which could mean extending planting in the north. Today is March expiration, so May will become the nearby, and the next month will be extremely important to the trade. At this writing, May is at 13.77 cents (-0.13).
