Most-active Oct-23 #11 world raw sugar reached a contract high of 26.98 Sep. 14. On Sep. 15, the contract tried to push above 27.50 before falling to close at 26.91. RSI grew slightly less bearish, MACD remains neutral to bearish, and the stochastic is overbought. 

Mar-24 #11 settled at 27.16 cents Sep. 15, down from its Sep. 14 contract high of 27.22. RSI is neutral to bearish, MACD grew slightly less bullish, and the stochastic is oversold. 

Nearby Oct-23 #5 world white sugar closed Sep. 14 at a contract high of $757.40, falling Sep. 15 to close at $748.30, below prior resistance above $749.00. RSI is neutral to bearish; MACD is moderately bullish. The stochastic could confirm a bearish crossover but is no longer overbought. 

Nearby Nov-23 #16 domestic raw sugar broke prior resistance below 42.00 cents the week of Sep. 11, settling Sep. 15 at contract high of 43.50 after a six-session rally, 1.5 cents above previous highs for the #16s. RSI is bearish, MACD grew more bullish, and the stochastic is nominally bearish but unsurprisingly remains overbought. 

The full version of this commentary appeared on our IQ platform Sep. 15, 2023. Further information, statistics, and pricing for the sugar market are available to IQ subscribers. Learn more about becoming a subscriber.


Source: 123rf.com
Posted by: Information Services
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