Sugar prices have been surging higher over the past week, rallying off the lows near 17.50 from the end of October, and is now looking to try and take out the April highs. These moves higher have put Sugar in overbought territory, and it is a seasonally bearish time for Sugar, meaning Sugar has traded lower from November 11th to December 7th 13 out of the last 15 years. Near term supply issues have made the market move higher, but the output is expected to be strong this year longer term. If supply does continue to look weak, the market can look to takeout the April highs, but with the seasonal trend there is a probability of prices declining.