Sugar prices in the past few months have pulled back because of the weaker oil price. Now that oil is at around $70 a barrel, sugar has to follow.

The hedge funds have pushed this market up, and now they are bringing it down again. Then we may see a small rebound as physical buyers come back into the market.

Industrial demand for silver has been lagging significantly since it went over $11.

We're entering bubble territory. Prices have moved away from reality, and are no longer linked to fundamentals.

Sugar prices are energy-driven; there's nothing else moving the market at the moment. It's all about the ethanol story.

Prices at these levels can't be justified based on fundamentals only. While we haven't seen the top of the market yet, the risk of prices collapsing is very high.

There is some classic, typical profit-taking going on.