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  • The net spec position in raw sugar fell by a sizeable 29k lots in the week up to the 13th July, almost wiping out last week’s increase.
  • This was driven by the fall of 18.3k spec long positions and an increase of 11k spec shorts, which created downward pressure on the price after it broke 18c/lb.
  • Interestingly, the gross commercial long position increased by 12.5k lots, despite high prices.
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Jack Haslam

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