Futures in London and New York were higher on news that Brazil had lowered its taxes on ethanol. Ideas are that mills will now produce more ethanol and less Sugar. It still looks like the market has now turned trends up and that good speculative buying might be seen on any price weakness. Bearish traders are looking at increased supplies in the market, while bullish traders hope for improved demand. It looks like reduced supply might be instead the news that drives a bull market, although there still looks to be better production from countries other than Brazil.
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