Features International Sugar Journal

Monthly Snapshot July [Full subscriber]

July raw sugar fell on June 24 to 18.29 cents per lb after slumping to a low of 18.23 cents, its weakest level since March 1. August white sugar fell to US$543.60 a tonne According to analyst Tobin Gorey of Commonwealth Bank of Australia, “The broader macro malaise is infecting sugar.” This was echoed by Dave Whitcomb, head of Research at Peak Trading Research, saying: “Hedge funds have been selling commodity futures due to macroeconomic weakness and recession concerns and better weather. The strong US dollar and weak Brazilian real is a significant headwind for softs specifically.” said Dave Whitcomb,…

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