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SUGAR UPDATE Raw sugar futures staged a recovery over the holiday period as a mixture of new money and fundamental uncertainty drove prices above 21 USc/lb. A strong India theme highlighted price action as concerns for early mill closures in Maharashtra supported the change in sentiment. In spite of a better than expected Brazilian crop, analysts remain of the view that supply will remain tight for 2017. Chinese stock releases are expected (albeit, very slowly) to fill the potential absence of Indian sugar. With t...

SUGAR UPDATE A shortened trading week did little to affect a continued rally in the front March-17 contract. Covering a 160 point range, March-17 traded from an early week low at 19.58 to post fresh 2 month highs of 21.18 USc/lb. News of delays to the Thai crop, continued reduction estimates for Indian and speculative buying, presumably led sugar higher. The latest Commitment of Traders report confirmed assumptions, that specs were mixed buyers and sellers of sugar this week. Net buying prevailing as new money sa...

SUGAR UPDATE As markets wound down for the last week of 2016, raw sugar futures surged higher on concerns over a potentially disappointing Indian harvest. Prompt March-17 managed a 150 point bounce in 3 days as prices tracked toward the key 20 cent level. The latest Commitment of Traders report supported the markets constructive sentiment, specs showing a mere 1,000 lot reduction to 132,000 net longs. UNICA released their figures for 1H December as expected. Production looks set to finish at 35.5 million tons of ...

SUGAR UPDATE Following a more active Christmas period, raw sugar futures have stabilized in to a 20 – 21.50 USc/lb range. Further uncertainty around Indian imports and China stock releases have seen prompt March-17 comfortable in the range. Indian import requirements (1.5–2 million tons) have been countered by the potential for further stock releases by Chinese Government. Trade flows remain tight through Q2, with the outlook beyond Q3 constructive. Despite a delayed start, the current Thai harvest is doing we...