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(March 14, 2002) SUGAR: While one cannot count out new near-term highs, especially if trade is thin and traders suspect stops can be hit, producer selling is likely to keep a lid on gains. That said, the upper end of a gap at 666 remains an upside target. We'll see.

Cash news is quiet, with traders continuing to ponder the huge supply of Brazilian sugar that will be coming to the market soon. The question is whether or not it will be on the market before or after the May contract goes off the board. Russia is said to be a buyer, but so far, little response from the market.

M. Steven Morgan

www.commodityreview.com

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