Just a quick update to all our readers. I did not appear on Kudlow tonight due to them changing course this evening and they informed me late in the day. I may be on next week or from Las Vegas. Anyway, look for tons of email here this weekend and all the best! Happy 4th.

Meanwhile….All you sugar doubters….I told ya! Congrats to all of you who bought sugar on the low. Read On. KK

Brazil ethanol data drive 5% rise in sugar

By Robert Cookson

Published: July 1 2008 19:54 | Last updated: July 1 2008 19:54

Sugar hit its highest price in almost four months on Tuesday, rising almost 5 per cent on the day, after a report of Brazil’s converting more cane into ethanol biofuel.

The Unica industry association of Brazil said sugar production in the world’s top grower fell 14 per cent in the first five months of this year compared with the same period in 2007 – while Brazilian ethanol use more than doubled to 5bn litres.

It said: “With the forecast of more rains and cloudiness than last year, difficulties remain for us to reach production estimates.”

The news drove sugar for October delivery up 0.64 cents to 13.74 cents a pound on the Intercontinental Exchange, taking its gains this year to 26 per cent.

Peter de Clerk, an analyst at Czarnikow sugar brokers, said sugar was also benefiting from widespread enthusiasm for commodities as others asset classes suffered.

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