Today's M^3 - Sugar Futures down 25% in 2011

The commodities complex has done well overall in 2011 but one exception is sugar, down 25% for the year. It barely beats out lumber as the worst performer over the last 5 months.


(Click here for a current listing of commodity gainers/losers).

I suspect the price drop is a long lasting after effect from when oil was hovering around $150/barrel. Most likely a significant amount of sugar/ethanol production was initiated during 2008 (chart courtesy of wikipedia).