Sugar Games: A Behind-the-Scenes Look at a High-Stakes Investing Gamble
By David Brough LONDON — A handful of the world’s biggest merchants play a tense, high stakes game every few weeks and a well-connected newcomer from Asia just sat down at the table. The stakes are in sugar often worth hundreds of millions of dollars; the occasion is the expiry of futures contracts. Five leading American and European trade houses — Cargill, Louis Dreyfus, ED&F Man, Sucden, and Bunge —…