In late May we had outlined our sugar trading strategy in the summer. We entered the trade in June 4th. This year our trade has done quite well. The exit window for the trade has opened up. Today’s price action convinces us to exit the trade. For reporting purposes we will use June 27th closing price of 18.32. This gives us a return of 7.5% within a 23 day holding period for an annualized rate of 119%. The ETF for sugar, SGG, closed the day at 55.49 for 2.8% gain or a 44% annualized return.