• The net spec position in raw sugar continued to fall in the week up to the 6th April, dropping by a relatively modest 5k to 147k lots long; this is the first time the position has fallen below 150k lots long since Sep’20.
  • Interestingly, this drop occurred despite the gross short spec position falling by almost 10k lots for the week, as the gross spec long eclipsed it after closing 15k lots.
  • Commercial consumers continued to capitalise on the cheaper price and increased their position by 20k.
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Jack Haslam

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