SUGAR UPDATE
The sugar market has been in a sideways range for the last 13 weeks. The bullish and bearish forces in play haven't changed dramatically in that time, but volumes have been low, suggesting the range will eventually break. To recap, the bullish camp are pointing to flat production growth in Brazil next season, a lack of rain in Thailand leading to no materially additional production next year and a crop in India not big enough for material exports the following year. The bearish camp point to the fact ...
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