Features International Sugar Journal

Monthly Snapshot January [Registered]

Market overview Market fundamentals continue to drive the price amidst global surplus. Raw sugar futures steadied at 13.82 cents per lb on December 18th. According to Michael McDougall, senior vice president of sale at ED&F Man Capital Markets, the average surplus out of 14 different trade houses is almost 6 million tonnes, with the U.S. Department of Agriculture anticipating a surplus of 10.7 million tonnes. The exchange data showed funds had been short-selling sugar more aggressively than most expected, which had now left the market vulnerable to a short-covering rally. Global supply/demand balance, million tonnes raw value Brazil’s Centre-South campaign…

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