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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Source: 123rf.com
Posted by: Information Services
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