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  • The net spec position in raw sugar fell for the second week running, dropping by 16k to 217k lots long.
  • This was driven by the closure of 16.5k spec long positions, which saw prices drop as low as 16.63c/lb.
  • This price weakening didn’t spark consumer buying interest, however, with the commercial gross long only increasing by 2.7k; with prices now above 17.5c/lb, this could be a missed opportunity for buyers ahead of the July expiry.
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Jack Haslam

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