Four warehouses in Brazil’s Santos Port holding over 300,000 tons of Sugar went up in flames this previous Friday. A high volume shockwave hit the Sugar futures spread market where commercial players hedge Sugar positions. The Mar 2014 vs May 2014 Sugar spread spiked 0.26 points from 0.16 to 0.42 or just under 300% on Friday alone. Later in the day on Friday, the spread came back down to earth closing at 0.27 still up just under 200% on the day.

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