Following March’s sideways trading below 21.50 cents, nearby May-23 #11 world raw sugar settled at a fresh high of 23.61 in early April. Support formed near 23.15, 22.85, 22.65, 22.40, and 22.00. Most-active Jul-23 #11 broke past resistance around 21.00 and 21.50 cents, rallying [...]
Open interest in world sugar futures rose in the last six reported weeks to a four-month high. Total managed money pushed to a ten-week high last week after seeming range-bound since early June. Total managed money was up 7 percent from the previous month [...]
On Tuesday Jul. 14, Oct-20 #11 hit a six-week low with a close at 11.32. The contract rebounded to longer-term retracement resistance above 11.80 the next day but failed tests of higher levels, turning instead to a four-session decline to retracement resistance below 11.65. [...]
Re-export credit values have been one of the bright spots for sugar-containing products for exporters that participate in USDA’s re-export program, especially since the Suspension Agreements with Mexico were put in place. Over the last ten years, spot re-export credits using a formula of [...]
