Market Reports

SUGAR: Sideways, choppy trading remained in force for another week in the sugar market. Directionally, sugar is still struggling with conflicting drivers; negative short term and supportive longer term. News released during the week did little to help that situation, with UNICA forecasting the CS-Brazil crop at 580 mmt (expected) but with a sugar make of 32.5mmt (below expectations), but with the Indian Meteorological Department forecasting the coming Monsoon to be only ‘slightly below’ average, against expect...

SUGAR MARKET OVERVIEW Sugar futures remained in choppy, sideways trading in a holiday shortened trading week, with little market news to speak of. This lack of news appears to be captivating market participants, with many believing prices will remain in the recent price range until something ‘new’ comes to light. May-14 options expired early last week, with little to write about. The May-14 futures contract expires next week, and all eyes are on the potential delivery to determine if there is in fact physical ...

SUGAR MARKET OVERVIEW In our last report, we suggested that weather markets bring volatility. Last week’s price action supported this entirely. The previous week prices rallied strongly from the lows of 16.67 USc/lb, to the highs of 18.10 USc/lb, basis the May14 contract. Last week saw prices fall from the highs of 18.10 USc/lb, posting lows of 16.79 USc/lb by mid-week. Then, in comparatively ordered fashion, prices went on to post two sessions of moderate gains to close the week at 17.35 USc/lb. The market cont...