Earlier this month, May-23 and Jul-23 #11 world raw sugar futures reached fresh contract highs. World sugar showed little in the way of unequivocally bullish factors, however, so amid moderate-volume trading and with oil closing lower over the week, technical trading and noncommercials were likely behind the gains.
May-23 #5 world white sugar touched a contract high but quickly retraced lower. Relative Strength Index was neutral to bearish, while Moving Average Convergence/Divergence was modestly bullish.
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Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.