Sugar Futures Positioning and CFTC Update 22nd June 2020

• In Raw sugar the net spec long continued to grow, now sitting at almost 50k lots.
• Despite appearing bullish, this increase occurred as the gross spec long fell; the gross long has been almost unchanged in 3 weeks.
• Speculative involvement in the raw sugar market is now at its lowest level since July 2012.

ICE No.11 Futures Speculative Positioning (values as of 16th June 2020)

ICE No.11 Futures Commerical Positioning (values as of 16th June 2020)

ICE No.11 Futures Open Interest (values as of 16th June 2020)

ICE Futures Europe (No.5) Speculative Positioning (values as of 16th June 2020)

ICE Futures Europe Open Interest (values as of 16th June 2020)