Sugar Futures Falling After Hitting 30-Year High (SGG)

Sugar futures hit a 30-year high earlier today, but have reversed course and are now heading south. At last check, the front-month Sugar #11 contract trading on ICE was down 1.89%. The iPath Dow Jones-UBS Sugar Subindex Total Return ETN SGG has lost 2.66%. The SGG has risen a staggering 130% in just the last 6 months.