Features International Sugar Journal

Monthly Snapshot October [Full subscriber]

On 20th September, a wave of buying took the New York March sugar futures prices close to US¢23/lb. Speculators “moved their net long position to a record level yet again during this week”, noted Deutsche Bank in their latest report. Tobin Grey at the Commonwealth Bank of Australia notes that these long positions are likely to “linger for a long while as most of it will be in the March contract. The long hiatus (about five months) means the extent of any disconnect between the physical and futures market will not have much impact until the New Year at the…

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