October sugar futures (SBV25) present a selling opportunity on more price weakness.

See on the daily bar chart for October sugar futures that prices are trending lower and have just hit a three-month low. See at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bearish posture as the red MACD line has just crossed below the blue trigger line. The bears have the solid near-term technical advantage to suggest still more price downside in the near term.

Fundamentally, sugar futures prices have been trending lower due to expectations for higher global sugar production this year, especially from India and Brazil, due to favorable moisture and increased sugar acreage. Worries about another escalation in global trade tensions that cause slowing world economic growth are also bearish for sugar prices.

A move in July sugar futures prices below chart support at 17.00 cents would become a selling opportunity. The downside price objective would be 15.00 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 18.00 cents.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.