Today we had a late No.11 opening due to London holiday and market experienced an opening 2 points below Friday’s settlement, at 20.60. Market weakness aligned with lower liquidity, was seen during the first trading hour, when by 1h30pm, market had lost about 60 points (daily low traded at 20.03). Slow recovery started by 2pm, when market was getting closer to opening levels and steadily started to build some strength, by 3pm market was trading near 20.50 again. Daily high was just after recorded at 20.77 at 3h30pm and then until closing, market traded inside the 22.40-22.65 band closing at 20.46. Settlement price was 20.53, 9 points below previous settlement. Volume traded was 25k lots. HK spread closed unchanged at 0.29.

 

Sugar market No.5 is closed today due to Boxing Day holiday

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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