• In the week of data collection (3rd to the 10th of November), the raw sugar price remained in a horizontal range, just below 15c.
  • This is because speculators, who have driven the recent rally towards 15c, were relatively inactive.
  • However, specs have since driven price towards the 15.5c mark, which will create significant margin pressure on producer shorts, who hold the second-largest position, in futures terms, at 802k lots.
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Jack Haslam

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