- After falling last week, the raw sugar net spec long grew again, but only slightly – signalling last weeks drop was not the beginning of a larger spec move.
- Involvement of speculators in the No.11 market remains historically low, and this doesn’t look like it will change in the short term as prices meander towards 11c.
- In white sugar the net spec long grew marginally after 4 week of gradual decline, suggesting specs are equally as unsure in whites as they are raws – with price continuing to hover around the $350/mt mark.
Sugar Futures Positioning and CFTC Update
ICE No.11 Futures Commerical Positioning (values as of 21st July 2020)
ICE No.11 Futures Open Interest (values as of 21st July 2020)
ICE Futures Europe (No.5) Speculative Positioning (values as of 21st July 2020)
ICE Futures Europe Open Interest (values as of 21st July 2020)
