Commodity prices can be influenced by storage arbitrage, as shown in a study on sugar prices. A new method called Maximum Likelihood estimation was used to analyze the data, revealing that storage plays a significant role in shaping price dynamics. The study found that commodity prices, like sugar, can exhibit asymmetric behavior with occasional spikes, which can't be fully explained by standard models. This suggests that storage arbitrage is a key factor in understanding how commodity prices fluctuate over time.