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SUGAR UPDATE The speculative and fund community caught the market by surprise over the weekend, with what was expected to be a reduction in their long position (into the 68 point fall last Tuesday) actually was an increase. It now appears more and more likely this is where the majority of the move up from 12.50 has come from. So where to now? Prices have washed out from 16.77 to 14.62 in the space of a week. But the long position of this sector is still very large by historical standards. Could they go to all the ...

SUGAR UPDATE The sugar market is currently the subject to two very different influences that are both fighting for overall control. On one hand, global commodities are rallying due to optimism in Chinese policy and the belief that the Fed will maintain interest rates at a low enough level to allow growth whilst having the cost of money virtually free. This has led to a “risk asset” rally—equity markets, commodities and commodity currencies (AUD, CAD, NZD) have all benefitted. Added to this, the sugar market...