All times below are BRT. Slim buying in the morning led the market once again to the 12.90 levels, with very little volume. At 9.a.m. (as always!), the funds resumed their buying spree on the wake of the huge Chinese demand and crop obstacles worldwide and the market quickly reached the psychological level of 13.00 cents, hovering there for about an hour or so. The resistance however proved futile when, at 10:34, a market order of around 2400 lots broke through the 13.00 roof, triggering stops and leading the market almost instantly into the 13.10s, which also brought fresh commercial shorts and eased the rising momentum for the day, with the market thereafter swinging back to the 13.00s and up again to settle at 13.10. If this continues tomorrow, it’ll mark the third consecutive positive week for sugar, one of the longest weeky gain sequences in the year.

Oct – Sugar No.11

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ICE Futures U.S. Sugar No.11 Contract

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ICE Europe White Sugar Futures Contract

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Jon Whybrow

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

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