SUGAR UPDATE
The sugar market spent the month of November trapped sideways significantly off the September lows. The market is grappling with opposing forces as spoken of previously (dryness in many production areas and too much rainfall in Brazil against an Indian subsidy which may release 2–2.5mmt (but up to 3.2mmt) on the world export market, plugging most of the perceived production deficit for next year.
Technically the fact the market has been unable to sell off through 14c bodes well for an eventual ...
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