Published by WallStreetWeather.net
Beyond sweetening drinks, candy, and ice cream, sugar is an ingredient in more food products and restaurant menu items than most people realize.
Raw sugar prices have climbed to a three year high as bad weather threatens crop yields in Brazil and India, the world’s largest sugar producers.
In “Sugar prices head towards the sky,” the Financial Times reports that traders are betting that “the physical market will be at its tightest between November and April. They forecast that the price peaks will be seen in the ICE March 2010 raw sugar contract.”
What’s interesting is that the planetary picture correlates to traders’ bullish sentiment.
Sugar is ruled by Venus, the planetary ruler of Taurus and Libra. From October 29, 2009 to April 8, 2010,* Saturn will be in Venus-ruled Libra. Saturn represents limitations and constraints, increasing the potential for “a global deficit of historic proportions” forecast by Barclays Capital soft commodities analyst Nicholas Snowdon.
Saturn creates harsh weather conditions. Since September 2007, Saturn has been in Virgo, an earth sign ruling the harvest. With Saturn opposing Uranus, the planetary energy of extreme conditions from autumn 2008 through mid-2010, weather conditions have either been too wet or too dry in many key crop growing regions. With Uranus in water sign Pisces, the sugar crop is suffering from too much wet weather in Brazil versus a lack of monsoon rains in India’s key sugarcane growing region.
Saturn opposing Uranus not only reflects weather conditions of the opposite extremes, but also represents sharp price movements in both extremes that have occurred in agricultural and other commodities such as crude oil since autumn 2007. Saturn in Libra challenging Pluto in Saturn-ruled Capricorn on November 15, 2009 and January 31, 2010 is likely to result in price increases that get passed on to consumers.
Pluto rules taxes, and Saturn challenging Pluto will give greater momentum to taxing sugar laden beverages and sweets. Excess sugar creates obesity and diabetes, a Venus ruled dis-ease. Virgo rules health and dietary matters. Saturn in Virgo is an excellent time for people to work on greatly reducing excess sugar from their diet. Then during Saturn in Libra we can fully savor the occasional indulgence of sharing a sweet treat with that special someone.
*Due to Saturn appearing to move retrograde from Earth’s vantage point, Saturn will re-enter Virgo from April 8 to July 22, 2010. Saturn will then remain in Libra until October 6, 2012.