Features International Sugar Journal

Monthly Snapshot September [Full subscriber]

October raw sugar futures in New York on 19th August rebounded to 18.09 cents per lb, after earlier having hit a two-week low of 17.61 cents/lb. The rally was driven largely by fund short-covering running out of steam. “The hefty buying by short investors seems to have exhausted itself now. So, with that aggressive buyer absent, the market is calibrating back to fundamentals that suggest lower prices for raws,” Commonwealth Bank of Australia analyst Tobin Gorey said in a note. A global surplus is expected in both the 2021/22 and 2022/23 seasons. October white sugar rose US$11.20, at US$550.10 a…

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