The Dow Jones-UBS Sugar Subindex Total ReturnSM is a sub-index of the Dow Jones-UBS Commodity Index Total ReturnSM and is intended to reflect the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the index as well as the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The Dow Jones-UBS Sugar Subindex Total ReturnSM is a single-commodity sub-index currently consisting of one futures contract on the commodity of sugar, which is included in the Dow Jones-UBS Commodity Index Total ReturnSM.
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Traders fear Brazil's sugar cane crop could fall below estimates, helping send sugar prices +3.4% higher. The output estimate has been slashed by Brazil's sugarcane industry association to 32.4M tonnes from 34.6M tonnes, although some traders see it falling as low as 31M tonnes.